There has been a substantial amount of convergence between post-Keynesian and Marxist economics, the writings of Kalecki being common ground for both traditions. Still, some differences remain. While authors in both traditions seem to agree to a large extent on short-period issues, long-period...

This article reviews the Keynesian/heterodox critique of free trade and the principle of comparative advantage, and offers some prima facie empirical evidence for North America that contradicts the basic predictions of the traditional free trade model. The evidence supports, instead, the view...

This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly,...

The "new consensus" in macroeconomics downplayed fiscal policy prior to the financial crisis. This view dramatically changed during and immediately following the crisis. However, this view has witnessed a reversal and returned to the pre-crisis policy perspective, especially since 2010. In this...

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...

The central focus of this book is the relationship between money, the sphere of production, and the State. It explores how best to adapt the fundamental ideas of the circulationist perspective to achieve a better understanding of the financialisation of the production processes within...

The history of the Bank of Canada and the U.S. Federal Reserve System is intertwined not only because of geographical proximity but because of the reciprocal influence on the way they have evolved their structures to conduct monetary policy. While both find their origins in financial crises, the...