The Global Economic Crisis

Abstract

Preface Malcolm Sawyer. The Global Economic Crisis: An Introduction Emiliano Brancaccio and Giuseppe Fontana Part 1: Economic Theory 1. On the Supposed Completeness of the Mainstream Theories of Crisis Emiliano Brancaccio 2. Economy and Economics: The Twin Crises Alessandro Vercelli 3. The Great Recession and the Third Crisis in Economic Theory Riccardo Bellofiore and Joseph Halevi 4. As If Nothing Were Going to Happen: A Search in Vain for Warnings about the Current Crisis in Economic Journals with the Highest Impact Factors Andrea Imperia and Vincenzo Maffeo Part 2: Labour, Distribution and Profit Trends 5. Changes in Income Distribution, Financial Disorder and Crisis Aldo Barba and Massimo Pivetti 6. Income Distribution and Borrowing: Tracking the U.S. Economy with a New Cambridge Model Gennaro Zezza 7. Changes in Functional Income Distribution in Italy and Europe Antonella Stirati 8. Low Wages, Consumer Credit and the Crisis: A Monetary Theory of Production Approach Guglielmo Forges Davanzati and Riccardo Realfonzo 9. Back to the Future? The Tendency of the (Maximum) Rate of Profit to Fall: Empirical Evidence and Theory Stefano Perri Part 3: International Economic Relations 10. The International Circuit of Key Currencies and the Global Crisis: Is There Scope for Reform? Lilia Costabile 11. Globalisation and the Great Crisis Ernesto Screpanti 12. The Global Crisis in Low- and Middle-Income Countries: How the IMF Responded Andrea F. Presbitero and Alberto Zazzaro 13. Notes on Europe, German Mercantilism and the Current Crisis Sergio Cesaratto Part 4: Economic Policy 14. Privatization, Reproduction and Crisis: The Case of Utilities Bruno Bosco 15. Property Rights in the Knowledge Economy: An Explanation of the Crisis Ugo Pagano and Maria Alessandra Rossi 16. Employment and Income Distribution from a Classical-Keynesian Point of View: Some Tools to Ground a Normative Analysis Enrico Bellino