This paper presents the main interpretations of the crisis that have been built within the mainstream general framework. Three theses are examined: the "money glut," the "saving glut," and "information asymmetry" à la Stiglitz. It is argued that the mainstream explanations suffer logical...

This paper argues that the mainstream lack of realism comes from its reduced definition of uncertainty. By contrast, the fundamental uncertainty is shown to be the reason why the notion of an optimum is deprived of objective foundation and therefore rational decisions cannot discard the...

While mainstream policies may be beyond improvement in the enchanted ›optimizable‹ world, Post Keynesians have to manage without a magic wand in our uncertain world. We discuss the alternative policies proposed in the recent Post Keynesian literature and argue that control of...

While mainstream policies may be beyond improvement in the enchanted ›optimizable‹ world, Post Keynesians have to manage without a magic wand in our uncertain world. We discuss the alternative policies proposed in the recent Post Keynesian literature and argue that control of interest rates...