This paper reproduces a lecture given by Joan Robinson to the British Council at the end of the Second World War. This lecture has not previously been published. The introduction sets it in historical perspective and outlines its significance. This is an important document representing, as it...

John Eatwell, former economic adviser to Neil Kinnock, asks what can and should be done to resolve financial turmoil in the west. Copyright (c) 2008 The Author. Journal compilation (c) 2008 ippr.

The widespread liberalization of international financial flows followed the end of the Bretton Woods system of fixed parities among the world’s major currencies. The trend toward openness has accelerated in the 1980’s and 1990’s and liberalization is now spreading rapidly to emerging...

Given that financial markets operate as a Keynesian beauty contest and the real economy has no automatic tendency to converge to full-employment growth, then the simple rules of the game embodied in the policy positions believed by market participants to be held by other market participants will...