The paper questions the wide-spread assertion that non-orthodox schools of thought in economics have only one thing in common – their rejection of mainstream (neoclassical) economics. The author shows by contrast that heterodox currents share some fundamental analytical insights. The paper...

This paper presents a stock-flow consistent growth model which is set in the Post-Keynesian tradition. A key feature of the model, however, is that real government expenditures grow at a rate which is compatible over the long period with a constant rate of unemployment (at the "natural rate of...

First paragraph: In early August 2009 the 2nd Summer School of the Research Network Macroeconomics and Macroeconomic Policies (FMM) was held in Berlin. As in the previous year, about 50 graduate students, young researchers and senior lecturers from all over the world came together to discuss...

In May 2011, the editors of Intervention: European Journal of Economics and Economic Policies, which is now named the European Journal of Economics and Economic Policies: Intervention (EJEEP), decided to put together a special issue on post-Keynesian and Institutional Economics.

The author reflects on the state of macroeconomic theory, and more specifically on how monetary economics is being taught in the aftermath of the global financial crisis. Whereas heterodox macroeconomic theory is very much alive due to the influx of a large number of contributions and...

Lance Taylor received a BS degree with honours in mathematics from the California Institute of Technology in 1962 and a PhD in Economics from Harvard University in 1968. He has been a professor in the economics departments of Harvard and the Massachusetts Institute of Technology, among other...