This paper offers an explanation of the resilience of IS-LM models, which are still alive more than sixty years after the birth of the first prototype despite growing criticism within the profession. To this end two significant episodes of their evolution are examined in some detail: the genesis...

This is the first of two volumes celebrating Keynes's contribution to economics, and the development of post Keynesian economics in recent years. It reinstates the importance of Keynesian economics and its revival since the end of the 1980s, and the book's authoritative chapters are presented by...

As recent experience suggests, the most significant economic fluctuations are those that combine real and financial factors. This paper works out a simple model that couples a version of Goodwin׳s (1967) growth cycle model of real fluctuations with insights drawn from a model of financial...

This paper argues that there is a secular tendency toward financialization that is intrinsic in the development of market relations. The driving force of this evolutionary process is rooted in a fairly continuous flow of financial innovations meant to remove the existing constraints to the...

Hyman Minsky is renowned for his theoretical and empirical investigation of the capitalist economy. In this book, a distinguished group of contributors provides an authoritative account of his contribution to the analysis of capitalism and, more particularly, to the fields of monetary and post...

This engaging book contains a set of original contributions to the much-debated issues of long-run economic growth in relation to institutional and social progress.

The current crisis is one of the great crises punctuating the long history of capitalism, and to be properly understood it is vital to take into account its ongoing structural transformation. This book offers plural perspectives on the Great Recession, placing the analysis of finance, class and...