Though the recent process of globalisation of international markets succeeded in sustaining the economic growth of the countries that actively participated in this process, the available empirical evidence suggests that it was accompanied by a world-wide increase of environmental degradation and...

The interplay of epistemic and empiric conditions of human behaviour plays a crucial role in economic causality but it is not satisfactorily analysed by the existing approaches to economic causality, including the most influential of them: Granger causality. In order to find a more satisfactory...

This paper aims to analyze the implications for environmental sustainability of the recent phase of globalization. This phase, here called "new globalization", has been specifically characterized by the spreading of the new economy that has accelerated the globalization of markets, and by the...

The recent revival of Hyman P. Minsky's ideas among policymakers, economists, bankers, financial institutions, and the mass media, synchronized with the increasing gravity of the subprime financial crisis, demands a reappraisal of the meaning and scope of the “financial instability...

This paper aims to help bridge the gap between theory and fact regarding the so-called “Minsky Moments” by revisiting the “financial instability hypothesis” (FIH). We limit the analysis to the core of FIH — that is, to its strictly financial part. Our contribution builds on a...

This paper aims to help bridge the gap between theory and fact regarding the so-called “Minsky moments” by revisiting the “financial instability hypothesis” (FIH). We limit the analysis to the core of FIH—that is, to its strictly financial part. Our contribution builds on a...

The recent revival of Hyman P. Minsky’s ideas among policymakers, economists, bankers, financial institutions, and the mass media, synchronized with the increasing gravity of the subprime financial crisis, demands a reappraisal of the meaning and scope of the “financial instability...

This paper explores the Marxian genetic root of the multiplier in order to clarify its foundations and validity conditions. Though the analysis is restricted to the first two volumes of Capital and the early contributions by Kalecki in the 1930s, we argue that we can draw from these works...

We examine the role of expectations in a model aimed to explain financial fluctuations. The model restates the core of Minsky's financial instability hypothesis, focusing on the role of expectations. The hypotheses concerning the process of formation and revision of expectations are discussed in...