This paper examines the assumptions underlying the view that large federal budget deficits crowd out private investment and create a twin trade deficit. These assumptions are contrasted with those of an alternative theory which emphasizes the importance of the institutional structures of the...

This paper attempts to expand upon a Minskian model of domestic financial crises to take account of the following international developments: capital inflows that increase financial fragility, foreign financing of deregulated domestic speculative markets, overcapacity in export markets, capital...

The Great Financial Crisis that began in 2007-2008 reminds us with devastating force that financial instability and crises are endemic to capitalist economies that lack powerful and dynamically changing financial regulations that can keep the powerful forces of leverage and credit within...

The stagnant wages, worsening distribution of income, and slower economic growth that have resulted from neoliberalism have weakened Social Security’s future viability. Moreover, the prediction of a future “crisis†for Social Security is based on the assumption of continued...