This paper provides an overview of the main currents in the development of the intellectual project inaugurated by Piero Sraffa's Production of Commodities by Means of Commodities. Five research programmes are detailed (together with some further extensions): the nature and significance of...

This article provides a simple formalization of income-expenditure equilibrium in accordance with the Principle of Effective Demand, but augmented to explicitly incorporate public debt. This is utilized to explore the conditions required for simultaneous achievement of full-employment growth and...

A radical proposal to address decisively the problem of mass involuntary unemployment, by way of a government committing itself to stand ready as 'employer of last resort', has recently been put forward by L. Randall Wray and others. To the question of how such large-scale policies would be...

Adam Smith is one of the great founding figures of modern social science, in a larger sense than that conveyed by the popular perception of him as merely the founder of economics or political economy. He was aiming for a quite comprehensive social science, and while this grand project wasn't...