One remarkable aspect of modern heterodox theory is the detachment between demand‐led growth models and endogenous money theories. This paper suggests a possible integration of the Keynesian theory of the multiplier (and supermultiplier) with endogenous money and Keynes's finance theories....

Many critics of Fully Funded (FF) pension schemes argue that these schemes would meet problems similar to those that, according to the dominant opinion, undermine Pay-as-you-go (PAYG) schemes as a result of the present demographic mutations, lower fertility and higher longevity. More...

The paper examines the dominant views on the adoption of mandatory Fully Funded pension schemes (FF) as a partial or complete substitute for the unfunded PAYG. Three obstacles to the FF reform are envisaged. To begin with, the reform may fail to boost workers' marginal propensity to save, since...

Due rapporti della Direzione per gli affari economici e finanziari della Commissione europea (European Commission 2009, 2010) forniscono un quadro ben documentato e condivisibile della genesi degli squilibri europei, sia commerciali che nei bilanci interni dei settori pubblici e privati, nel...

Contributions to Brancaccio and Fontana (2011) look at a variety of aspects of the current crisis, some of them focusing on the contingent financial causes, others on the underlying contradictions of capitalist economies. In this context, less attention has been paid to the role of Europe and...