Titlebook: Macroeconomics, Finance and Money; Essays in Honour of Giuseppe Fontana,John McCombie,Malcolm Sawyer Book 2010 Palgrave Macmillan, a divis

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How Does a Capitalist Economy Work in the Real World?r many primitive tribes today, explanations of events were due to the design of God or the Gods. Beginning in the seventeenth century, some philosophers argued that explanations should be based on human reasoning rather than religious belief. This was the beginning of the intellectual movement we ca

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Bubbles Lead to Long-term Instabilityaised interest rates once inflation exceeds the target or there is persistent overheating, thereby pricking the bubble. Moreover, central banks have added liquidity every time a bubble has burst and cut interest rates to offset the deflationary gap. By doing so, the central bank has prevented the ne

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A Minsky Moment, or Not?is was at long last Minsky’s moment of posthumous vindication, and in a way it was. However, a couple of post-Keynesian luminaries, Paul Davidson and Jan Kregel have raised questions as to whether the current financial debacle qualified as a Minskyan crisis (Davidson, 2008; Kregel, 2007). Of course,

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Finance, Speculation and Stability: Post-Keynesian Policies for Modern CapitalismF wit some years ago to crack: ‘Well, he’s dead and we’re in the long run’. Though Keynes’s remark is well known, its context is not. It occurs in his 1923 Tract on Monetary Reform in which he is cheeking his old teacher, Alfred Marshall. For he continued: ‘Economists set themselves too easy, too us

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Peter Kessler,Nicolas Hardtre Potential, Van der Pol Oscillator, Electrostatics, Motion of a Charged Particle inan Electromagnetic Field, Duffing Oscillator, Negative and Complex Bases, Tautochrone Curves, Kepler’s Laws, Foucault’s Pendulum, Iterated Function Systems, Public-Key Encryption, and Julia and Mandelbrot Sets..The