This paper suggests that contemporary economics is characterized by three key features. First, it is focused on 'big questions' in political economy and is willing to look outside economics to search for these questions and their answers. Second, contemporary economics is empirically focused....

Is a monopolized banking sector a threat to democracy? While Oskar Lange and Abba Lerner (1944) recognized that socialism was a threat to democracy, they also held that a tendency towards banking sector monopolization under capitalism would undermine democracy through the inevitable...