A group of prominent international economists got together to develop an urgent call for change. As they say, the European Union became an Austerity Union. Their call for new policies includes a focus on growth and employment, reducing inequality, reforming banking, and new taxes and social...

Why is there excess capacity in the world today? The neoclassical economics that came to power in the 1970s argues essentially that supply should create its own demand--Say's Law. But it has not worked out that way. This economist returns to the work of early theorists to explain what happened,...

The authors argue that the current financial crisis, the worst since the Great Depression, can be seen as the latest phase in the evolution of financial markets under a radical financial deregulation process that began in the late 1970s. Deregulation accompanied by rapid financial innovation...