Econophysics has already made a number of important empirical contributions to our understanding of the social and economic world. These fall mainly into the areas of finance and industrial economics, where in each case there is a large amount of reasonably well-defined data. More recently,...

The firm’s performance and health are explained by firm-specific factors such as capital structure, ownership structure, and cash flow. However, corporate performance and failure are not solely determined by the firm’s characteristics alone, being in part related to the environmental economy...

My differences with the standard neoclassical model of the economy are legion and have literally filled a book. Debunking Economics (Keen, 2001) focused on the flaws in the micro side of neoclassical economics, because that is the wellspring from which all neoclassical economic fallacies...

The proposition that the Global Financial Crisis was inherently unpredictable is a recurrent theme amongst those charged with preventing such events. It is also a convenient untruth. A Netherlands academic did a rather better survey of the literature than Governor Stevens, to identify 12...

The economic theory that motivated the deregulation and privatization of the US electricity industry is seriously flawed in three crucial ways. First, the Marshallian theory of the firm is based on two mathematical errors which, when amended, reverse the accepted welfare rankings of competitive...

It is somewhat common for heterodox economists to come to the defense of neoclassical microeconomic theory. This is due to many reasons, but perhaps the commonest one is ignorance. It seems that most heterodox economists are not aware of the many critiques or that as a collective they completely...

Several recent comparative studies have shown a labour productivity gap in respect of UK retailing when compared with other countries, notably France and the USA. This article seeks to identify, through an overview of existing data and related research, the extent to which retail productivity in...

In this paper we present a macroeconomic microfounded framework with heterogeneous agents – households, firms, banks – which interact through a decentralized matching process presenting common features across four markets – goods, labor, credit and deposit. We study the dynamics of the...

This paper aims at investigating the interplay between inequality, innovation dynamics, and investment behaviors in shaping the long-run patterns of development of a closed economy. By extending the analysis proposed in Caiani et al. (2017) we explore the effects of alternative wage regimes...

This paper presents the first detailed and holistic description of the European production network (EPN) and provides different rankings of the most 'systemically important' industries involved in Brexit. Employing techniques of complex networks analysis and Input-Output traditional tools, the...