Books reviewed: Jonathan P. Goldstein/Michael G. Hillard (eds.) (2009): Heterodox Macroeconomics: Keynes, Marx and Globalization, London Mathew Forstater/L. Randall Wray (eds.) (2008): Keynes for the Twenty-First Century. The Continuing Relevance of The General Theory, Basingstoke L. Randall...

Normally book reviews are placed in the respective section in Intervention. This issue is, with good reason, an exception to the rule. The collective volume »Macroeconomic Theory and Macroeconomic Pedagogy«, edited by Giuseppe Fontana and Mark Setterfield, attracted such interest that we...

First paragraph: You are looking back on more than 40 years of academic life and you will enter your 70th year of life this year. What was your motivation to become an economist and what were the major steps in your career as a professional economist?

First paragraph: The death of Jörg Huffschmid in December 2009, at the age of 69, is a loss to critical economics and to the movement for a more just and rational economic system. Jörg worked, in Germany and in Europe as a whole, both to develop a powerful critique of orthodox economic...

First paragraph: Hyman P. Minsky (1975; 1982a and 1986) presented his »financial instability hypothesis« (FIH) as a cyclical interpretation of The General Theory (TGT) which highlighted Keynes's most innovative insights. This paper compares Minsky's FIH with the 22nd Chapter of TGT, which Keynes...

First paragraph: In a paper presented at the 8th Annual Conference of the Brazilian Society for Political Economy, in June 2003, Victoria Chick (2004: 3) wrote: »There are many pleasures attached to being in Brazil, but one of the chief intellectual pleasures is that Brazil is still a centre of...

First paragraph: Giuseppe Fontana and Mark Setterfield have edited an interesting book on the relationship between recent developments in macroeconomics and the teaching of the discipline at the undergraduate and intermediate levels (Fontana/Setterfield 2009). The editors have chosen to focus...

First paragraph: As Claudio Sardoni in this issue points out, Giuseppe Fontana and Mark Setterfield (2009) have edited a very interesting volume. Given the vast amounts of macroeconomic literature published since Hick's invention of the IS-LM model and the still existing predominance of this...

First paragraph: It is with great pleasure that we participate in this Special Forum discussion of our Macroeconomic Theory and Macroeconomic Pedagogy (MTMP) (Fontana/Setterfield 2009). Before discussing the comments by Claudio Sardoni and Sebastian Dullien, we would first like to outline the...

First paragraph: The financial market crisis that transformed into a global recession is a challenge for both economic theory and policy. In retrospect, nearly three years after the first signs of the crisis, a few tentative conclusions concerning the appropriateness and effectiveness of the...