Recent emphasis on chartalism is an important extension of the monetary theory within Post Keynesian analysis. However, chartalism as the main interpretation for the existence of money has some limitations. Sovereignty, understood as the power to tax and to collect in the token of choice, is not...

Post-Keynesian theory was developed as an alternative to mainstream neoclassical economics. However, post-Keynesians have not succeeded in getting their message through, partly because of the difficult and controversial economic issues upon which they embarked, partly because they emphasized,...

This paper describes briefly the main alternatives to the dominant neoclassical theories of inflation, according to which inflation is always a monetary phenomenon. The model develops a cost-push approach, in which raising costs are mainly related to external constraints. Distributive conflict...

The paper provides a critical analysis of the literature on monetary policy institutions. It presents a critique of the dominant notion of central bank independence, based on the literature on time-inconsistency of monetary policy. An alternative view that emphasizes the role of distributive...

Conventional wisdom associates the two lost decades of economic stagnation in Brazil to macroeconomic imbalances and excessive budgetary deficits. This paper suggests that, contrary to conventional wisdom, the fiscal crisis of the state in Brazil was the result of the liberalization strategy...

It is widely recognized that economic crises can sometimes trigger enormous change, with regard to both economic theory and the politics of governance. Today, the global economy is struggling with the fall-out from the financial crash of 2008 and the Great Recession of 2007–2009. The...

Original articles by leading scholars of post Keynesian economics make up this authoritative collection. Current topics of the greatest interest are covered, such as: perspectives on current economic policy; post Keynesian approaches to monetary theory and policy; economic development, growth...

The surge in academic work on globalization has made several of the topics dear to authors of the dependency school relevant once again. Therefore, a reconsideration of dependency theory seems to be appropriate. There are at least two approaches to dependency. This article analyzes critically...

Conventional wisdom about the business cycle in Latin America assumes that monetary shocks cause deviations from the optimal path, and that the triggering factor in the cycle is excess credit and liquidity. Further, in this view the origin of the contraction is ultimately related to the excesses...