We present an introduction to the translation of a part of the stock-flow consistent (SFC) framework published by the German economist Wolfgang Stützel in 1958, which follows in this issue. While not a quantitative model, Stützel's 'balance mechanics' has some features which still stand out...

In Marx's explanation of functional income distribution, wages are given as a basket of goods needed for the reproduction needs of the working class. Profits are then the remaining part of income creation. Marx's explanation of functional income distribution has several theoretical and practical...

Kazimierz Łaski's first contributions to economics were on the theory of growth and equilibrium in the socialist economy. He gravitated in between Włodzimierz Brus, who argued that the economy could be brought into equilibrium through market mechanisms, and the most profound influence on...

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...

Wassily Leontief met with decades of success for the development of input-output analysis, and yet he remained a staunch critic of the economics profession throughout his life. To understand his success, its limits, and the origins of his discontent, I separate the scientific activities of...

This paper revisits Keynes's (1930) essay titled "The economic possibilities for our grandchildren." We discuss the three broader trends identified by Keynes that he expected would come to characterize the socio-economic evolution of advanced countries under individualistic capitalism: first,...

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...

This paper documents an early fork in the development of macroeconomics, by examining a debate between the Dutch economists Jan Tinbergen and Johan Koopmans. In a 1932 paper, Tinbergen argued that two firms could be stuck in a 'bad' equilibrium in the absence of a coordinated action to increase...

Our goal in this paper is to shed light on a forgotten contribution to Brazilian economic thought, that is Victor Viana's 1922 book Histórico da Formação Econômica do Brasil (Brazilian Economic Formation's Timeline). That book never got a second edition, and is rarely referenced among both...

This article highlights the various sources that shaped the genesis of ordoliberalism. In the wake of the emerging project of neoliberalism, ordoliberals created a theory that contains a bundle of claims, which constitute the attempt to merge liberalism and its contextual embedding into a social...