Institutions and Development After the Financial Crisis

Edited by Sebastiano Fadda, Pasquale Tridico

© 2013 – Routledge

202 pages | 17 B/W Illus.

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Hardback: 9780415844376
pub: 2013-10-16
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About the Book

The financial crash of 2007-2008 and the subsequent global economic crisis have raised questions about the viability of capitalism and the desirability of alternative types of economic system. In this context, Keynesian and Marxist ideas in particular have become more popular. These two approaches, along with some other heterodox perspectives, agree on the need for institutional analysis and for better institutions and governance in order to promote economic development.

This volume poses fundamental institutional, evolutionary and ontological questions relating to the emergence of a new mode of governance after the financial crisis. The book argues that, contrary to the recent austerity policies implemented in the EU in particular, a new level of government involvement is required in order to keep aggregate demand stable, make full employment possible, and create a transparent financial sector, serving the real economy and encouraging productive investments.

This book will be of interest to students, researchers and policy makers working in the areas of finance, institutional economics, development economics and international political economy.

Table of Contents

Introduction Sebastiano Fadda and Pasquale Tridico Part I: Institutional and Evolutionary Theoretical Perspectives in Time of Crisis 1. Development Theories, Economic Policies and Institutions: A dialectical evolution Pasquale De Muro, Salvatore Monni and Pasquale Tridico 2. Evolutionary Dynamics in Revolutionary Times Hardy Hanappi 3. Which Way for Economics after the Crisis? Marxism versus Institutionalism Geoff Hodgson 4. Finance-Dominated Accumulation and Post-Democratic Capitalism Bob Jessop 5. Economic Policy, Institutions, Democracy in a Time of Crisis Sebastiano Fadda 6. The Great Depression in a Long Run Perspective: A postscript to War, Love and Cultures Ugo Pagano Part II: New Governance and Policies for Development after the Crisis 7. Global Imbalances and Declining Hegemony: Looking for a new paradigm after the financial crisis Pasquale Tridico 8. The Treaty on Stability, Coordination and Governance: A dangerous treaty Dany Lang 9. Creative Commons Licenses Massimiliano Gambardella

About the Editors

Sebastiano Fadda is Professor of Labour Economics and Economic Growth at the University Roma Tre, Italy. He is also Director of the ASTRIL Research Centre at the University Roma Tre.

Pasquale Tridico is Professor of Labour Economics at the University Roma Tre, Italy, and Research Associate at Trinity College Dublin, Ireland. He is currently General Secretary of the European Association for Evolutionary Political Economy.

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS068000
BUSINESS & ECONOMICS / Development / Economic Development
BUS069010
BUSINESS & ECONOMICS / Economics / Comparative