This contribution aims at exploring what is today the new "normal" in economic policy, namely, austerity. It must be read as a homage to Karl Polanyi, the first who understood the tragedy, and to Kari Polanyi-Levitt, who expanded on her father's thought. Austerity has nothing to do with old...

[fre] Sismondi et la théorie du déséquilibre macro-économique . . II est prouvé dans cet article que Sismondi opère une véritable révolution théorique, au sens de Morishima. Dans une première section, est présentée la vision sismondienne du modèle d'équilibre ricardien ; Ricardo...

This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly,...

With recent turmoil in financial markets around the world, this unique and up-to-date book addresses a number of challenging issues regarding monetary policy, financial markets and macroeconomic policy.

Money, Distribution and Economic Policy takes issue with the inappropriate treatment of money, effective demand and distribution issues in modern mainstream macroeconomics. It presents contributions which are critical of modern orthodoxy and which explore alternative approaches to macroeconomics...

The current crisis is one of the great crises punctuating the long history of capitalism, and to be properly understood it is vital to take into account its ongoing structural transformation. This book offers plural perspectives on the Great Recession, placing the analysis of finance, class and...

Orthodox economists, whatever their vintage, are puzzled: How could the current deep recession triggered by the 2008 financial crisis be worsening despite the efforts being made to return to stability? For a brief moment after the crisis, Keynes became fashionable, but his ideas have again been...