This review essay of Critical Essays on Piero Sraffa's Legacy in economics situates Sraffa's work in relation to the Marshallian tradition and neo-Walrasian general equilibrium theory, and reviews the current state of debate between adherents of these traditions on the role of demand, returns to...

During his lifetime Hyman Minsky made a seminal contribution to the development of financial Keynesianism. In this book, leading academics celebrate his work and explore his economic legacy. Special attention is paid to his work on contemporary economic method, the Great Depression, the European...

This major Handbook consists of 29 contributions that explore the full range of exciting and interesting work on money and finance currently taking place within heterodox economics. There are many themes and facets of alternative monetary and financial economics but two major ones can be identified.

Recent claims, particularly in Paul Krugman's column and blog, on the superiority of the Hicks-Modigliani version of Keynesian economics calls for a re-thinking of the issues raised in the early controversies over what Joan Robinson called "bastard Keynesianism." "Good old-fashioned Keynesian...

An interpretation of the labor theory of value is proposed which retains the proportionality of profit and unpaid labor time in the face of any deviations of prices from labor values. The concept "value of labor power" in the case when prices are proportional to labor values is equal both to the...

This paper reviews the historical roots of Marx's labor theory of value and some contemporary contributions to the critique of this theory. Modern commentary on Marx's labor theory of value based on dual system of parallel prices and embodied labor coefficients loses sight of the theory's roots...

This paper investigates the changing relationship between employment and real output in the U.S. economy from 1948 to 2010 both at the aggregate level and at some major industry-grouping levels of disaggregation. Real output is conventionally measured as value added corrected for price...