Low-denomination coins are ceasing to be accepted as a medium of exchange in India, according to Romar Correa.

Two agendas of the heterodox economics programme; the stock-flow consistent models pioneered by Wynne Godley, and the monetary circuit approach researched in France and Italy are discussed. The objective is to present a coherent account of two innovations in payments mechanisms: deposit-creating...

Purpose – The purpose of this paper is to make a case for an international clearing house. Design/methodology/approach – The systems postulate is used: the whole is greater than the sum of the parts. Specifically, the 2007 Godley-Lavoie model is exploited. Findings – Domestic banking...

We approach the developing economy through an agriculture/industry and basics/ non-basics demarcation. A Classical-Keynesian rationale for the high interest rates in the country and low interest rates in the town is provided. The institutional requirement is for a strongly inequality-reducing...

We model the interaction between capitalists and entrepreneurs as a dynamic game. The open-loop Nash equilibrium and the closed-loop Nash equilibrium are distinguished. The purpose is to answer some questions that have arisen in the development of profit-led versus wage-led growth models. We...

Exegetical study of the economics of Hayek and Keynes are active research industries in the form of the neo-Austrian and Post-Keynesian research programmes respectively. Often it would appear that these efforts would benefit from an underlying methodological orientation. It is our argument that...

The relationship between organizations and environment is examined within the context of General Systems Theory. It is argued that the policy problem confronting the modern organization is to cope with environmental turbulence. Three modes of coping with fundamental uncertainty are identified....

Keynes was a member of the Bloomsbury group, a group that took its credo in some measure from the philosophy of G.E. Moore. However Keynes was unable to follow through the implications of this early influence into his economics cumbered as he was with his ‘Marshallian baggage’....