The article aims to show that the opposition «welfare or barbarism» is historically linked to the degree of globalization of advanced economies. I argue that the current trend is not the zeroing of the welfare state, but a radical re-definition of it along both «universalist» and...

The so-called ‘Theory of Monetary Circuit’ not only represents an original Marxian rereading of Keynesian macroeconomic categories, but also provides an essential tool for the analysis (and the critique) of recent developments in capitalist economies, including the financialisation process....