Keynes' theory can be interpreted as dealing with unemployment as a disequilibrium phenomenon in an essentially dynamic context. In this perspective, it is much more important to explain why unemployment changes than to identify a presumed level of equilibrium for this variable. Patinkin, an...

In this paper we analyse the role of financial resources in a process of competition interpreted as a continuous restructuring of productive capacities. Financial constraints appear an essential means of co-ordination. Co-ordination with the environment where this process of restructuring takes...

Novelty and hysteresis are the main engines of economic evolution. However, they are also at the origin of co-ordination issues, as the consequences of any innovative choice can never be fully expected. Thus, there is no sense in analysing economic change as an intertemporal equilibrium with...

Keynes' main concern in the General Theory is about the capacity of an economy to return to a full employment equilibrium when subject to a (negative) demand shock. He maintains that money wages cuts may not help reabsorb unemployment, as they do not necessarily imply a fall in real wages. On...

With respect to relocation (delocalisation) issues two attitudes can be contrasted. According to the most standard one, relocation does not create any problem when full competition prevails in product, labour, and capital markets. Changes in transportation and production costs may generate...

Real divergences in economic performances that emerge between countries belonging to the eurozone make it necessary to define an economic policy oriented toward a re-industrialization of some regions in Europe. In a world characterised by irreversibility of investment and imperfection of...

Many of the factors responsible for the financial crisis (financial innovation ans securitization ;heterogeneity of agents, markets and regulatory framworks) are by and large overlooked by standard macroeconomic models which have failed to forecast the advent of the crisis and are unable to...

La Pratique de la Chine est un ouvrage original. Écrit par un praticien des affaires, destiné à éclairer les entrepreneurs soucieux de s’implanter en Chine, il relève à bien des égards d’une réflexion philosophique fortement inspirée des travaux de François Julien. Ce n’est donc...

La nouvelle économie géographique repose sur des modèles cœur-périphérie et conclut que les inégalités régionales sont nécessaires pour soutenir la croissance et assurer le bien-être par le canal de la baisse des prix. Il serait dès lors malvenu d’entraver le libre jeu du marché,...

Dans un monde globalisé, les entreprises sont incitées à modifier la localisation de leurs activités pour tirer parti des avantages différenciés des nombreux territoires éligibles. Les collectivités publiques aux différents échelons territoriaux sont engagées, de leur côté, dans des...