This paper argues that Marx’s theory of economic crises constitutes a system of three discrete ‘sub-theories’ on: (i) distributive growth cycles; (ii) effective demand; and (iii) the tendency of the average profit rate to fall. The paper explores the relationships between these sub-theories...

This paper explores the dynamics of the Greek public debt and its relationship with the ‘twin deficits’, that is, the public and current account deficits. By modeling the evolution of these variables and using actual data of the Greek economy, this paper shows that the public debt is...

Using data from the Symmetric Input-Output Table of the Greek economy for the year 2010, this paper estimates the corresponding Sraffian autonomous demand-transfer payments curve. The findings reveal certain technical-effective demand-social features of the Greek economy and provide a context...

The economic crisis that inflicted Greece is international in character and its cause is in the decreasing profitability of capital which from a certain point onwards leads to the stagnation of profits, discourages new investment, reduces production and increases unemployment. If these are...

Greek abstract: Η μέχρι τώρα έρευνά μου που αποκαλύπτει θεμελιώδη λάθη της συμβατικής (νεοκλασικής) οικονομικής θεωρίας, βασίζεται κυρίως στη (λανθασμένη) αντίληψη της...

The present paper is based on state-of-the-art research in European and Asian labour-intensive and technology-intensive industries, concerning the competitiveness of small and medium size enterprises in the context of knowledge-economy. Cross-country and cross-industry econometric analysis of...