This paper attempts a systematic examination of the significance of increasing returns for macroeconomic theory. Two main questions are addressed: (i) What are the implications for the construction of macromodels of the assumption of increasing returns? and (ii) What are the implications for the...

An investigation into the metric space generated by commodity exchange. Shows that this is an non-Euclidean space. Provides empirical data comparing labour and electricity as the possible supports for this metric space.

This book contends that post Keynesian economics has its own methodological and didactic basis, and its realistic analysis is much-needed in the current economic and financial crisis. At a time when the original message of Keynes’ General Theory is no longer present in most university...