The Australian government has passed legislation, the Clean Energy Future Policy, establishing a carbon-emission pricing scheme. While the scheme is represented as the most efficient and cost effective means of reducing emissions, the government has also committed to ensuring equity in burden...

China’s economy has expanded at a rapid pace over the past three decades, underpinned by a range of economic reforms. While many of these reforms have focused on the supply side of the economy, the authorities have employed a range of policies to manage aggregate demand and control the...

India has experienced persistently high inflation in recent years, despite a period of below-trend economic growth. As a result, controlling inflation has become a key objective for policymakers. The two main indicators of inflation in India are the wholesale price index (WPI) and the consumer...

Treaty federalism in North America encompasses not only governance implications of the historic treaties signed with Aboriginal peoples, but also the modern-day treaties known as “comprehensive land claim agreements.” This article explores how treaty federalism is realized in Northern Canada...

The paper reflects on two phenomena seen by orthodoxy as key defining characteristics of imperfect competition: product differentiation and restricted mobility of resources. Product differentiation is first considered in terms of its significance within a Sraffian price model. This in turn...

The aim of this paper is to shed light on the idea of demand-led growth by exploring the relation between growth and autonomous demands in a two-sector model that includes fixed capital with variable efficiency. The paper considers disequilibrium only in relation to quantities, with prices set...

The paper contends that the derivation of the aggregate demand curve in the new Keynesian literature is insufficient to provide the theoretical ground for the use to which it is usually put; namely, as a theoretical basis for the claim that long-run wage and price flexibility would push a...

This paper reappraises sustainable trajectories of public debt and fiscal balance, with particular reference to the possible relations between the interest rate on debt and the growth rate of the economy. From the standpoint of the approach to the theory of interest proposed by Keynes--and, in a...

The paper suggests an alternative 'benchmark' model or 'microfoundations' for theorising about macroeconomic phenomena in the case of competitive equilibria. This alternative reflects a classical-Sraffian explanation of relative prices. This approach also provides a coherent framework for the...