Following a quarter century of low unemployment, high growth rates and rapid expansion of world trade, the past 15 years have been marked by a dramatic rise in unemployment and substantial declines in the growth rates of income and trade. Based on their appraisals of underlying trends, prominent...

This important volume of original essays by a distinguished group of scholars from the evolutionary, institutional and socio-economic schools makes a major contribution to the reconstruction of political economy as an evolutionary science.

George Shackle was one of the most original and thought-provoking economists of the twentieth century. The significant contributions he made to the issues of time, expectations and uncertainty ensured that he enjoyed an Olympian reputation within the discipline.

In The Methodology of Macroeconomic Thought, Sheila Dow attempts to bridge the gap between methodology and macroeconomic theory through the study of four different schools of thought in economics – the Neo-Austrian, mainstream, PostKeynesian and Marxian traditions – and by seeking to...

This authoritative and comprehensive reference work introduces the reader to the major concepts and leading contributors in the field of Keynesian economics.

According to the New Consensus in monetary economics, monetarism is dead and central bankers target low inflation rates by acting upon short-term real rates of interest. Yet, this synthesis hinges on variants of the long-run vertical Phillips curve originally proposed by Milton Friedman, the...

Working from Keynes’s revolutionary analysis of a money-using entrepreneurial economy, this important new book presents a real world alternative to the basic macroeconomic analytical model. In Post Keynesian Macroeconomic Theory, Paul Davidson addresses the limitations of conventional...

This important book provides an understanding and appreciation of the current problems of income distribution in various nations around the world. The essays run from theory to policy, from domestic to international perspectives and throughout an attempt is made to integrate personal...

The industrialized economies of the world have experienced a considerable diversity of economic experience since the shocks of the 1970s. The authors of this major study assess the institutional determinants of economic performance in a comparative analysis of OECD economies. They focus in...