The dominant role of the "new consensus models" in central banks' policy-making in the last two decades has triggered the reaction of post-Keynesian economists to examine alternatives to inflation-targeting monetary strategies and to Taylor-type interest rate rules. This paper develops a simple...

Books reviewed: Hein, E. and Stockhammer, E. (2011): A Modern Guide to Keynesian Macroeconomics and Economic Policies, Cheltenham, UK Claudio Sardoni (2011): Unemployment, Recession and Effective Demand. The Contributions of Marx, Keynes and Kalecki Stephan Schulmeister (2010): Mitten in der...

The purpose of this paper is to provide an exposition of Veblen's and Minsky's views on the financial markets and to explore the possibility of any common denominators. I stress that they both bring forward the importance of leverage as a path-breaking insight, as well as of liquidity and...