The book of Thomas Piketty "Capital in the XXI Century" is ambivalent. On one hand, too simple theoretical reading, basically a-institutional, considers the growth rate as exogenous, and ignores the heterogeneity of capital, making the distribution of income and wealth a technical data without...

L'objet de cet article est de proposer une lecture de l'évolution des faits et des idées économiques, dans la perspective de montrer que les vieilles idées resurgissent sous de nouveaux atours, au point d’en cacher les lacunes et de rendre les crises, non seulement, difficiles à prévoir,...

This paper describes the out-of-equilibrium approach to the analysis of economic processes. We argue that such an approach is adapted to study qualitative (or structural) changes, like technical progress or changes in preferences. Truly sequential analyses manage to capture the essential...

This book addresses the foundations of economic growth at the firm level, combining both theoretical and econometric contributions by established scholars. Challenging contributions revisit Marshall’s view on the management of innovation, investigate the decision of firms to venture into...

This paper describes the out-of-equilibrium approach to the analysis of economic processes. We argue that such an approach is adapted to study qualitative (or structural) changes, like technical progress or changes in preferences. Truly sequential analyses manage to capture the essential...

This paper is aimed at showing the complementarity between Richardson's and Hicks' contributions as regards the sketching out of a proper analytical framework for dynamic analysis. These contributions deal with two essential analytical ingredients that the out-of-equilibrium analysis of...

Keynes' theory can be interpreted as dealing with unemployment as a disequilibrium phenomenon in an essentially dynamic context. In this perspective, it is much more important to explain why unemployment changes than to identify a presumed level of equilibrium for this variable. Patinkin, an...

In this paper we analyse the role of financial resources in a process of competition interpreted as a continuous restructuring of productive capacities. Financial constraints appear an essential means of co-ordination. Co-ordination with the environment where this process of restructuring takes...

Novelty and hysteresis are the main engines of economic evolution. However, they are also at the origin of co-ordination issues, as the consequences of any innovative choice can never be fully expected. Thus, there is no sense in analysing economic change as an intertemporal equilibrium with...

Keynes' main concern in the General Theory is about the capacity of an economy to return to a full employment equilibrium when subject to a (negative) demand shock. He maintains that money wages cuts may not help reabsorb unemployment, as they do not necessarily imply a fall in real wages. On...