The "American Model" serves as a point of reference in discussions of economic policy around the world especially in Europe; many claim that the American version of the free market represents an ideal type-it is the highest form of capitalism. The author argues, however, that the United States...

The book begins with a penetrating analysis of the main features of today’s capitalism and in particular the conflict between shareholders and managers. It moves on to focus on the consequences of globalization in the decision-making processes of large corporations and represents an important...

This Companion provides a timely and engaging treatment of Hyman Minsky’s approach to economics, which is enjoying a renewed appreciation because of its prescient analysis of the slow but sure transformation of the capitalist economy in the post-war period. Many have called the global...

This paper summarizes a comprehensive revision and update of UTIP.s work on the inequality of pay and incomes around the world, from 1963 to 2008. The new UTIP-UNIDO (University of Texas Inequality Project-United Nations Industrial Development Organizatio

This paper deepens and extends the conclusion by Conceição and Galbraith [2000] that, under some very general conditions, the dynamics of overall inequality can be captured using only the between sector component of the Theil index. This paper explores the fractal properties of the Theil...

The concept of a natural rate of unemployment, or nonaccelerating inflation rate of unemployment (NAIRU), remains controversial after twenty-five years. This essay presents a brief for no-confidence, in four parts. First, the theoretical case for the natural rate is not compelling. Second, the...

High employment in America stems not from flexible wages, but from institutions that foster high effective demand, especially in health care, higher education, housing, and the spending of retirees. These institutions combine public and private revenue sources so as to establish soft budget...