A disparity exists between mainstream perception and reality with regard to American economic history. There is widespread belief among the public, media, and even some scholars that the U.S. amassed its wealth and prosperity from the adoption of exclusively free-market principles from the onset...

This study discusses the challenges that economic policy-makers in Europe have to cope with, in order to ensure an economically prosperous and institutionally stable community of Member States of the European Union (EU). At the analytical level, we not only document a process of...

This is a research on Political Economy, Macroeconomics and Applied Economy, based on the Austrian Economics ́ approach over the economic cycles and applied to the Spanish case (2002-2014). Attention is focused on the endemic problem of economic cycles, such as successive and distorting periods...

The Cambridge Journal of Economics witnessed an important debate between Mark Pernecky and Paul Wojick on the one side and Rod Thomas on the other about the usefulness of Thomas Kuhn’s sociology and philosophy of science in explaining why Keynes’s revolutionary ideas exposed in the General...

This paper analyzes developmental trajectories in the EU. In doing so, it diagnoses economic polarization on two different levels: for one, we observe a divergence of average incomes across EU countries as a persistent empirical feature associated with European integration. For another, European...

The objective of the present article is to analyse the elements proposed by Celso Furtado regarding the process of overcoming underdevelopment - before and after "industrial civilization" - and to determine whether such attributes can characterize him as a neo(post)-Kaleckian. To accomplish this...

It is assumed that Marx focuses on profits that are to be realized in larger production that permits some surplus production. This understanding underpins the importance of increasing returns embedded in employment dynamics associated with larger employment bases. This organizational form not...

Economic models translate real problems to an artificial world, and calculate outcomes. The match between artificial worlds populated by rational robots, and the real world, is never assessed. Instead, models are judged on aesthetic grounds, involving conformity to preconceived principles of...

This article addresses Kondratiev’s approach to the problems of economic dynamics, cycle and conjuncture in the context of a new methodological agenda which was formulated in the 1920’s in Europe and the USA by representatives of the "brilliant generation of economists," mostly members of...

Friedrich Hayek was a fervent advocate of the methodological specificity of the social sciences. However, given his contact with Karl Popper, several historians and philosophers have characterised his final position as Popperian, that is, a position that would have accepted the unity of the...