In this paper we aim to trace the roots of the ongoing economic mayhem and to unmask the chorus of the tragedy which plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of perfect competition, the global fields of the dysfunctional...

In this paper we aim to trace the roots of the ongoing economic mayhem and to unmask the chorus of the tragedy which plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of perfect competition, the global fields of the dysfunctional...

The appreciation of the consequences of financial globalization is an important task for contemporary political economy. This paper maintains that industrial and macroeconomic instability faced by many developed and developing countries is likely to be attributed, to an extent, to changes in...

This paper develops a neo-Kaleckian dynamical model that investigates how an increased financial instability affects the investment rate and the wage share of income in the long run. It is shown that a rising benchmark interest rate affects negatively the capital accumulation and the wage share...