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A Basic Version of the Micro-founded Neo-Keynesian Model
This chapter considers a basic Neo-Keynesian micro-founded model. In particular, for the choices of firms, it distinguishes various forms of...
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Non-Mainstream Economics in the USA
The chapter deals with the non-Mainstream economics in USA, represented by the Post Keynesians, the neo-Marxists and the Institutionalists. Firstly,...
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Multiplicity and not necessarily heterogeneity: implications for the long-run degree of capacity utilization
The paper discusses the implications of disaggregation within the post-Keynesian debate on the long-run convergence of the degree of capacity...
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Hirofumi Uzawa and Tsuneo Ishikawa: Institutionalism, Macroeconomic Analysis, and Social Common Capital
We consider Hirofumi Uzawa and Tsuneo Ishikawa, the world-renowned institutionalist post-Keynesian economists in Japan. After studying the...
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Economics at the Cowles Commission in Chicago and Yale
The chapter deals with economics at the Cowles Commission in Chicago (until 1955) and then at Yale, under the leadership of Jacob Marschak, Tjalling...
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Economics in Chicago and the New Chicago School
The chapter deals with the New Chicago School in Chicago, around a group of economists like George Stigler, Milton Friedman, Ronald Coase and Gary...
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Introduction
This chapter constitutes an introduction to the book whose purpose is to illustrate the objectives and method pursued by the author. The main...
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More Complex NKE Models: Stickiness in Money Wages, Real Stickiness, and Extensions to a Medium-Size Model
This chapter addresses aspects of the NKE that are progressively more complex than the basic model previously considered. First, a nonlinear...
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Eiichi Sugimoto’s Creative Rivalry in “Modern Economics” and the Present State of Economics
We reconsider Eiichi Sugimoto—who proposed the term kindai keizaigaku (modern economics in the Japanese context) and emphasized the significance of...
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Confirming Robinson’s Statement on Keynes’s Rejection of the Classical Economy and His Immediate Orthodoxy
This chapter indirectly deals with Keynes’s frank rebellion against the core of Classical Economics, as represented by utilitarianism, atomism,...
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Out of the Standard. Towards a Global Approach to Platform Labour
This chapter challenges a taken-for-granted split in the platform critical studies: the analysis of platform labour in terms of informalization in...
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How Did Micro Come to Reign over Macro Again? On Microeconomics, Macroeconomics and Microfoundations for Macro
The gradual rise of New Classical Macroeconomics (NCM) starting in the mid-1970s, instituted it as the hegemonic position in macro theory and...
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A Hundred Flowers Blooming of Economics
From the perspective of the history of economic theory, with every major leap forward in human society and every major development of human...
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On Some Dissenting Views: “Post-Keynesians” and Hyman Minsky
The various oppositions to Keynes surveyed in the previous chapters—the Monetarists, the Austrians and the New Classical macroeconomists—encountered...
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History of Sciences and Epistemology
This chapter aims to define the different conceptions regarding the nature of epistemology and, ultimately, to determine the relative weight of...
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Cambridge, That Was: The Crucible of Heterodox Economics
Cambridge was the crucible of heterodox economics, the habitat of several distinct lineages that took root and evolved there from the 1920s. This...
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New perspectives on the rise and fall of global imbalances: evidence from large emerging market economies
This paper estimates the impact of internal factors, such as governance institutions and financial development, versus external, such as capital...
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Do macroeconomic and financial governance matter? Evidence from Germany, 1950–2019
This study hypothesises that economic governance matters for economic performance; neglecting its role in creating positive synergies between macro-...
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The Institutional Forms on Which a Capitalist Economy is Based
Why such a contradictory socioeconomic regime does not end into the chaos generated by the competition of all against all? Pure market mechanisms...
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The Future of Economics and the Economics of the Future
Let’s start with the good news. As we all know (rightly or wrongly) the discovery of America put off the evil day predicted by Malthus, back in 1798,...