This paper evaluates the five most popular analytical approaches to the East Asian "miracle" economies: neoliberal, structural-institutional, "flying geese," Greater China, and dependency perspectives. Distinguishing between national and regional development visions, we specify the key forces...

This article begins with the observation that a restructuring of social relations basic to capitalism is necessary to end the nation's economic crisis. It argues that free market solutions to the crisis have proven their bankruptcy, making it likely that capital will eventually pursue...

The consensus among economists is that China’s post-1978 market reform policies have produced one of the world’s greatest economic success stories. Some progressives believe that China is now capable of serving as an anchor for a new (non-U.S. dominated) global economy. A few claim...

Neoclassical economists suggest that the promotion of economic development requires deregulation of the financial sector, especially removal of the interest rate ceilings commonly enacted by the state in Third World countries. But this view ignores the relations between financial development,...

Keynes' analysis of the instability of investment and the businesss cycle emphasizes the effects of uncertainty and shifting expectations on investment decisions. Keynes' focus on historical/ qualitative change and on the essentially incalculable nature of expectations in a world of uncertainty...

Investment fund money is a particular form of credit money whose nominal value is linked to the market prices of the assets held by mutual investment funds. The present paper argues — contrary to some neoclassical theorists — that investment fund money cannot (by itself) provide an...