Financialization is a process whereby financial markets, financial institutions, and financial elites gain greater influence over economic policy and economic outcomes. Financialization transforms the functioning of economic systems at both the macro and micro levels. Its principal impacts are...

Economists' principal explanations of the subprime crisis differ from those developed by noneconomists in that the latter see it as rooted in the US legacy of racial/ethnic inequality, and especially in racial residential segregation, whereas the former ignore race. This paper traces this...

Forty-five years ago, the A. Philip Randolph Institute issued The Freedom Budget, in which a program for economic transformation was proposed that included a job guarantee for everyone ready and willing to work, a guaranteed income for those unable to work or those who should not be working, and...

Kalecki devised a novel method of analysis, which was also used by some of his collaborators.Unfortunately however, that method has not had the impact it deserves on applied research, not even among his followers. The objective of the present paper is to revisit Kalecki’s applied studies. I...

The article is an introduction to the new issue of the Journal. It provides an overview of the current economic and financial situation and summarises the main topics dealt with by the following articles.

Most economists expected that the "Great Recession" produced by the financial meltdown of 2008 would usher in a resurgence of traditional Keynesian economics and a decline of what has come to be called "market fundamentalism". By contrast, also due to the inadequate size of the 2009 stimulus...

Most economists expected that the Great Recession produced by the financial meltdown of 2008 would usher in a resurgence of traditional Keynesian economics and a decline of what has come to be called “market fundamentalism”. By contrast, also due to the inadequate size of the 2009 stimulus...

During 2021 and 2022 many news media outlets have been reporting that millions of workers in the US have been quitting their jobs in record numbers. In a global economy rebounding from the economic downturn caused by the Covid-19 outbreak and demanding more workers, a high rate of resignations...

Degrowth proposes radically reorganizing societies to equitably downscale the economy. The concept remains relatively unknown in the United States, a country whose oversized production and consumption have ample room to degrow. An informal survey suggests that American degrowth advocates tend to...

Most economists expected that the “Great Recession” produced by the financial meltdown of 2008 would usher in a resurgence of traditional Keynesian economics and a decline of what has come to be called “market fundamentalism”. By contrast, also due to the inadequate size of the 2009...