By the beginning of the 20th century, the possibility and efficacy of economic planning was believed to have been proven by totalitarian experiments in Germany, the Soviet Union, and, to a lesser degree, Fascist Italy; however, the possibilities and limitations of planning in capitalist...

Financial relations have been deeply transformed in the 1980s and 1990s by deregulation and liberalization. Among the most affected by these changes has been the banking system. Domestic banks have generally lost the implicit protection given by regulatory barriers to entry. Until very recently,...

Among the areas in which the Keynesian revolution has been more unsuccessful in changing orthodox views, the relationship between savings and investment must certainly be the best known. Even today, after more than seventy years of publication of The General Theory, policy-makers are still...

In this important book, Professor Carvalho firmly establishes the methodological connections between Keynes’s uncertainty concept and the evolving post-Keynesian literature. At the same time, he demonstrates why the Hicksian ISLM ‘Keynesian’ approach went off the careful analytic tracks...

Mercosul (the Southern Cone Common Market) was created in the mid-1980s with four membersâArgentina, Brazil, Paraguay, and Uruguay. Theoretically, it was supposed to be the start of a regional integration initiative that could eventually evolve into a Union, following the example of the...

Developing economies were traditionally conceived as economies where capital was scarce with respect to labor and land. Capital scarcity was explained by different reasons, such as low domestic savings propensities (the poor were too poor to save and the rich consumed like their counterparts in...