This paper outlines what are the essential features of the theory of the monetary circuit. It provides both theoretical and historical foundations to this approach and contrasts it with alternative conceptions of money, including the neoclassical and other heterodox approaches (in particular,...

A reexamination of the Clower-Leijonhufvud approach to Keynesian theory is presented. Central elements are the lack of information available to atomistic economic agents in a decentralized environment, and the insistence on multi-period analysis. Such a reexamination is necessary to avoid the...

The paper is concerned with macroeconomic aspects of fertility. Second section starts by outlining the role of population in the history of economic thought, and continues by examining the theory of demographic transition. The fourth section explores the relation between population and economic...

Purpose – The paper aims to offer a new perspective on the strictly microeconomic nature of all of Islamic economics. Writers in this field continue to work in the mainstream tradition without noticing the micro-interface of the theoretical nature of Islamic economics. This paper aims to...

Using recent literature, examines developments in seven macroeconomic schools of thought: orthodox Keynesian, monetarist, new classical, real business cycle theory, new Keynesian, Austrian and post-Keynesian. Describes all of these and classifies them as orthodox, new or radical. After setting...

This document contains three texts. The first one discusses Capital Theory, the second one discusses Keynes achievements and the third one its General Theory of Employment, Interest and Money.

This article explains how movements in the unemployment rate reflect the relative rates of growth of employment and the labour force and are related to the participation rate, labour productivity growth and output growth. A framework is provided in which to analyse the determinants of movements...