Cesaratto's critique of the neoclassical approach to pension reform is valuable, but he has overextended his argument in applying it to proposals to use pre-funding as a mechanism for achieving greater public ownership and for redistributing wealth progressively. The fiscal surpluses needed to...

Comprising specially commissioned essays, the Handbook provides a comprehensive overview of alternative theories of economic growth. It surveys major sub-fields (including classical, Kaleckian, evolutionary, and Kaldorian growth theories) and highlights cutting-edge issues such as the...

This paper develops a growth model with overlapping generations of workers who save for life-cycle reasons and Ricardian capitalists who save from a bequest motive. The population of workers accommodates growth, so that the rate of capital accumulation is endogenous and determines the growth of...