This paper provides a theoretical account of the role of regional differences in cyclical patterns of credit availability for patterns of regional convergence or divergence. While mainstream theories ...

Keynesian theory cannot come into play to save the day when the right environment for strategic government intervention is absent. Whenever I think of the humungous scandal involving this country’s ...

February is a highly anticipated month as the Indian government tables the Union Budget in Parliament. This year marks the 90th anniversary of a book whose ideas broadly lays the economic foundations ...

The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical ...

Macroeconomics studies an overall economy or market system, its behaviors, the factors that drive it, and how to improve its performance.

The ongoing feud between President Trump and Fed Chairman Jerome Powell centers on interest rates. This tells us more about the near-universal view of what constitutes monetary policy than it does ...

My distant relative was on his deathbed. He was in pain, gasping for air, trying to breathe. The noise of his attempts echoed in the quiet room. The last three months of his life, he had been dealing ...

John Maynard Keynes was a 20th century British economist who developed a theory about government policy in relation to private sector business. His macroeconomics approach was to use ...

VAN BUREN THORNE, M.D. TimesMachine is an exclusive benefit for home delivery and digital subscribers. About the Archive This is a digitized version of an article from The Times’s print archive, ...

Kaleckian literature is considered an important theme in the post-Keynesian school of economic thought. In the aftermath of the financial crisis, the endeavors of forming a new consensus regarding ...