This paper is a revised version of a discussion with Nobel laureate Vernon Smith on the limits of neoclassical theory and on the opportunity to recover the alternative approach of classical economists and Marx. Vernon Smith is certainly right to insist on the heuristic force of the classical...

The economic and health crisis triggered by the Covid-19 pandemic leaves the European Union facing the steepest decline in production and employment since the Second World War, on top of economic fundamentals that are already fragile as a result of the disastrous effects of the double fall...