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All papers by date
Philip Pilkington
The purpose of this essay will be to examine theories of financial stability and instability with the view to eventually establishing whether financial markets are inherently stable or unstable, especially in light of the evidence thrown up by the worldwide financial crisis of 2008. We will begin by examining the three major existing theories of … Continue reading »
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Posted for review 3 May 2013
Bob Milward
The Least Developed Countries Report 2006 argued that a paradigm shift in national and international policies to promote development and poverty reduction is required because current policies are inadequate and have failed to develop productive capacities in the underdeveloped economies. However, the policies that are advocated do not deal with the fundamental question of how … Continue reading »
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Posted for review 16 Apr 2013
Minseong Louis Kim
This paper investigates into some of major errors made by Steve Keen and Rus- sell Standish (K-S) in their papers in Utilities Policy and Real-World Economics Review. The most important error that this paper nds is the wrong use of cal- culus that makes price (or demand) function of market inapplicable for calculus usage. This … Continue reading »
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Posted for review 16 Apr 2013
Saumya Chakrabarti
In our journey through the literature on ‘home market’ for industry we find that time and again agriculture has been identified as the potential sector. However, our basic point is that, it is rather the appropriate government intervention creating scope for Kaleckian ‘domestic exports’ that can mitigate the short-run problem of ‘effective demand’ faced by … Continue reading »
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Posted for review 13 Mar 2013
Ernest Hamsag
Having defined what is inflation, this article proposes some hypothesizes to eliminate external and psychological factors; it also examines a closed economy. It shows that the deep cause of inflation is the out of balance relation between consumption expenditure and saving. If consumption expenditure increases more than saving, the result is an inflation of the … Continue reading »
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Posted for review 13 Feb 2013
Pablo Ruiz Nápoles
The central issue studied in this essay is the meaning and implications for public policy of Nicholas Stern’s statement that “Climate change is the greatest and widest-ranging market failure ever seen” (Stern, 2006). To deal with this issue we analyze first the two big currents about public policy measures in general: market oriented and state … Continue reading »
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Posted for review 14 Dec 2012
Donald W. Katzner
The purpose of this paper is to open a dialogue with heterodox economists about what is valid in heterodox criticisms of neoclassical microeconomics. A criticism is valid if (i) it is based on an accurate representation of the analysis, theory, or model in question and (ii) it points out genuine logical weaknesses or actual mistakes … Continue reading »
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Posted for review 20 Nov 2012
Paata Leiashvily
Reproduction is infinitely renewable, continuous production process. This means that as a result of production its premises, conditions for continuing production are also reproduced. Without the understanding of this process, cannot be explained the functioning of economy, as an integrity, as a living organism. Neoclassical theory considers the production of goods as a unidirectional process … Continue reading »
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Posted for review 29 Sep 2012
