Post-Keynesian Economics (PKE) is at the crossroads. Post-Keynesians (PKs) have become effectively marginalized; the academic climate at universities has become more hostile to survival and the mainstream has become more diverse internally. Moreover, a heterodox camp of diverse groups of...

The paper explores the implications of the 1920s 'cost controversy' for heterodox economic theory (here limited to post-Keynesian and Sraffian analysis). It argues that neither neoclassical nor heterodox theories have found viable solutions to the basic dilemma posed by the 'cost controversy',...

This article aims at analysing the relationship between conventions and monetary policy using both the post-Keynesian and the French-conventions-school approaches, treated as complementary; and stressing the design of monetary policy frameworks (for example, inflation targeting) and the setting...

This article argues that the Europe's continuing economic underperformance, particularly in the eurozone, is neither a function of insufficient information (policymakers do not know the right policies) nor ideology (policymakers are unable to recognize the right policies due to ideological...

Ordoliberalism and Keynesianism are not exactly known to fit hand in glove. Accordingly, the German economists Walter Eucken, head of the Freiburg school, and Wilhelm Röpke, from his Istanbul and Geneva exiles, were in near perfect agreement in their opposition to the interventionist "full...

Modern economic history can be roughly split into different eras in which certain sets of ideas dominate politics and policy-making. This paper seeks to understand if a shift in the 'political economic paradigm' is currently under way by inspecting the state of debates across a range of economic...

The growing importance of services has led to significant structural change in advancedeconomies, with the service sector now accounting for the largest share of employment indeveloped countries. In his seminal model of the so-called cost disease of services, WilliamBaumol noted that the prices...

Language as a formal and informal institution can be a useful tool of the society for effective communication in order to adopt the right policies for economic development, etc. And yet Greece is probably the only country in the world which does not differentiate Finance from Economics, e.g....

In the 1950s, Jacques Rueff's references to social order seem pretty clear: it is not a spontaneous phenomena. Although Rueff is generally seen as a liberal economist, this has prompted commentators to see in his approach something more artificial than Hayek's own ideas on social order. Hayek...