This paper reviews Piketty’s book Capital in the 21st Century. Although the facts described by Piketty are widely indisputable, the paper criticizes the actual economic theory underlying the central thesis…
More ›
Despite Alfred Marshall’s early recognition of the importance of mothering, human capital theory scarcely reflects the role of the home environment as a factor influencing the production of human capital….
More ›
…behavior and the influence of organizations on economic activity, but the neoclassical paradigm, with the rational isolated individual as its main actor, prevails in mainstream economics. This paper presents a…
More ›
The paper seeks to assess the timeframe for eradication of poverty, defined by poverty lines of $1.25 and $5 per person per day at 2005 purchasing power parity, if pre-crisis…
More ›
…markets and “printing money” is inherently inflationary. Combining these assumptions with the broader world view of monetary policy as the appropriate sole manager of the macroeconomy, neoclassicals essentially define fiscal…
More ›
Efficient progress of the monetary theory of production (MTP) is hampered by an unsatisfactory account of how profit and interest emerge in the monetary circuit. As matter of fact, this…
More ›
…lower interest rates and thus more funds to be used by firms for investment. The paper shows that proponents of this theory confuse quite different economic phenomena and commit serious…
More ›
…paper applies a funding rule projects returns based on current price to earnings ratios in the stock market. It runs a number of simulations based on the pattern of stock…
More ›
…prisoner’s dilemma model, the paper illustrates how developed countries’ power to externalize their emissions to the global commons skews their cost-benefit calculation in favor of putting off mitigation efforts into…
More ›
…printing presses to finance deficits raises the spectre of inflation, with too much money chasing too few goods. Hence, prudency dictates relying on taxes to pay for most government spending….
More ›
…of what solidarity is and how far it can go, particularly under circumstances that may prove devastating for individuals, households and communities. The present paper is a result of both…
More ›
The purpose of this paper is to open a dialogue with heterodox economists about what, from a neoclassical perspective, is valid in heterodox criticisms of neoclassical microeconomics. Many heterodox criticisms…
More ›
This paper proposes the argument that natural resource abundance and large economic inequality, by shaping the interests of different social groups, are key factors for the determination of the transition…
More ›
…political process, and develops propositions on the operation of a democracy. Two key assumptions were no false information and no irrationality. As he acknowledged, neither is realistic. There is extensive…
More ›
This paper is drawn from Mitchell (2015), which traced the origins of the Eurozone back to the desire in the immediate post-World War II period to end the destructive Franco-German…
More ›
This paper provides measures of earnings inequality in the United States across economic sectors, measured within states, from 1969 through 2012, and of income inequality across counties, from 1969 through…
More ›
…his explanation of the money-supply process. William Mitchell’s paper, while entirely consistent with those of Wray and Fullwiler, looks more specifically at the European Union. Mitchell starts by reminding the…
More ›
The euro crisis has highlighted the dilemmas of an ambitious regional monetary integration project with limited economic policy cooperation. What lessons can regional monetary cooperation schemes in other world regions…
More ›
In light of wide differences in economic outcomes in the world, this paper uses an evolutionary set of lenses to examine the clusters of Buenos Aires’ automotive, Los Lagos’ salmon,…
More ›
…fact was used in our previous presentation. This paper deals with correcting the derivation of the Keen equilibrium, and generalising the result to the asymmetric case. As well, we discuss…
More ›
The paper argues in favor of a radical disconnection between the exchange function and the valuation function of financial markets. It defends it from an investee’s point of view, mainly…
More ›
…of comparative advantage, is unconvincing as a complement. It is concluded that the theory of comparative advantage should be dismissed. International trade theory, by relying on this theory, risks ignoring…
More ›
…requires an examination of how the European economy functions and the appropriate theoretical approach to analysing it. The purpose of this paper is to revisit the thinking behind the design…
More ›
…sector in the 19th century. The finance, insurance & real estate sector is today’s incarnation of the rentier sector. This paper shows how financial flows can be conceptually and statistically…
More ›
In this paper we evaluate whether the surge of capital inflows to Latin American countries after the 2007-08 global financial crisis poses a threat for these economies. Recent IMF’s documents…
More ›
…leaves something to be desired. While understanding the promise of the perspective deriving from brain physiology, some scholars have expressed dissatisfaction with it. Accordingly, the purpose of this paper is…
More ›
…in its approach to trading regimes currently in operation. In this paper we address this in terms of the arguments against the comparative advantage orthodoxy of free trade and for…
More ›
…provide stronger support for his arguments than his data contains, particularly in his visualizations of the rate of return on capital as it compares to the rate of economic growth,…
More ›
Among the most common objections to providing everyone with an unconditional basic income is the cost objection. It states that the cost of providing everyone with a decent income floor,…
More ›
…this process of “differentiation,” the creation and maintenance of difference, is, in practice, the production of inequality, which disadvantages regional campus students as well as members of the regional faculty….
More ›
…more space is really needed to make the main points. The Editors may ask that a paper is made concise before it is put online in the Discussion Forum. The…
More ›
…some measures, over half of banking assets and liabilities are routed through secrecy jurisdictions; more than half of world trade passes (on paper) through them; virtually every major multinational company…
More ›
Email: wereditor@worldeconomicsassociation.org Jayati Ghosh, India, Jawaharlal Nehru University: jayatijnu@gmail.com John Weeks, UK, University of London: johnweeks@jweeks.org Susan Feiner, USA, University of Southern Maine: sffein@usm.maine.edu Esteban Perez Caldentey, Chile, Economic Commission…
More ›
Neoliberal restructuring includes an unprecedented attack on the autonomy of universities, their faculties, administrators, support staffs and students. How has your work—as a professor, graduate student, educational support professional, administrator…
More ›