Book review of Heilbroner, R. L.; Milberg, W. (1995): "The Crisis of Vision in Modern Economic Thought", The Press Syndicate of the University of Cambridge, Nueva York

We compare neoclassical and classical theories of outsourcing. The former is premised on an improved international division of labor and predicts a rise in the return to skill. This contrasts with the classical model, which emphasizes the distribution of income between labor and capital and its...

The general failure of economists to predict the financial crash of 2008 gave rise to a lively and apparently wide-ranging debate over the state of the discipline and the need (if any) for significant reform. But has the actual debate been robust enough to contemplate significant reform, or has...

Abstract The massive globalization of production led by large firms in industrialized countries, combined with the policy shift in developing countries toward export-oriented growth, has meant that economic development has increasingly become synonymous with “economic upgrading” within...

Abstract Vertical specialization is a measure of the import content of exports. Given the widely recognized importance of trade in tasks and global production networks, vertical specialization has recently gained the attention of international trade researchers and policy makers. In this note,...

We discuss the effects of the stock market in the second part of the paper, which centers on the relation between stock prices and R&D investment. We examine Tobin’s (and Minsky’s) “q” theory and the implications it has for this investment, along with the relationship between innovation...