The processes of globalisation and increased economic regionalism have had profound, often destabilising, effects on modern economic and financial systems. In recognition of this fact, the editors of this fine book have collected together a diverse range of heterodox ideas surrounding the...

This valuable and engaging new book bears eloquent testimony to A.P. Thirlwall’s substantial contribution to economics over the last 40 years. The volume does not attempt to provide a comprehensive review of such a prolific figure, but rather demonstrates the considerable influence that his...

This enlightening and significant volume focuses on the nature, causes and features of economic growth across a wide range of countries and regions. Covering a variety of growth related topics – from theoretical analyses of economic growth in general to empirical analyses of growth in the...

Beginning with an assessment of new thinking in macroeconomics and monetary theory, this book suggests that many countries have adopted the New Consensus Monetary Policy since the early 1990s in an attempt to reduce inflation to low levels. It goes on to illustrate that the explicit control of...

First paragraph: Mrs. Thatcher’s controversial premiership in the UK ran from 1979 to 1990. It witnessed the end of the post-war Keynesian macroeconomic consensus and the introduction of monetarist policies targeting inflation by attempting to control the growth of the money supply. The...

In Cambridge, UK, in the late 1960s and early 1970s, there were some of the most distinguished post-war non-neoclassical economists, which included Nicholas Kaldor, Joan Robinson and Piero Sraffa. The Cambridge capital theory controversies seemed to have been decisively settled in Cambridge,...

This paper considers from a methodological point of view why disputes in macroeconomics over its fundamental assumptions regularly occur. It analyses the problem first using Kuhn's concept of the paradigm and then draws on McCloskey's use of rhetorical analysis. It finds the latter of limited...

In 2008, the three main banks in Iceland collapsed. There is strong evidence that the banks would have become insolvent even without the subprime crisis. Yet there was a marked difference in opinion at the time about the viability of the Icelandic banks. A clean bill of health was given by the...