This paper examines the impact of the covid pandemic on the financialisation process, here viewed as the growing domination of the world's financial securities markets over the world's material output base. Two major arguments are advanced. The first is that the pandemic has reinforced the...

Since the outbreak of the financial crisis in 2007, opinion has been divided over whether its root cause was credit arbitrage or safe asset demand. New research on the European banks' role in the crisis may finally help to resolve the issue. Far from being peripheral players in the crisis,...

The subprime crisis exposed a flaw in post-Keynesian stock-flow models, namely their concession to mainstream macroeconomic theory that financial markets obey a price-clearing rule. Two reasons lie behind this concession. The first is the assumption that investors give priority to the price...

In February 2015, the European Commission published a Green Paper in which it put forward the goal to 'build a true single market for capital' for all European Union member states by 2019. The present paper argues that there is no realistic prospect of achieving this goal given that the Green...

The subject of this paper is the contemporary postcolonial condition. Its central argument is that this condition is one of perpetual entrapment in circular motion as any progression registered by postcolonial countries by participating in the global capitalist system as independent states is...

Recent decades have marked both the globalisation of capitalism following the collapse of communism and its financialisation following the rapid growth of the world's securities markets. These developments have impacted the core-periphery divide in capitalism. In the case of globalisation, the...