Dimitri B. Papadimitriou

The political economy of Greece: An empirical analysis of Marxian economics

Abstract The main purpose of this paper is to empirically calculate the Marxian categories of the Greek economy over a twenty-year period (1958–1977). The empirical estimates of both the basic Marxian variables and the fundamental relationships are calculated. Finally, the Marxian results are summarized and contrasted with relevant conventional measures. The results in this paper show a falling rate of profit along with a simultaneous rise of the organic composition of capital and the rate of surplus-value as these relate to the Greek economy and for the period under consideration.

Introduction: Minsky on Money, Banking and Finance

This Companion provides a timely and engaging treatment of Hyman Minsky’s approach to economics, which is enjoying a renewed appreciation because of its prescient analysis of the slow but sure transformation of the capitalist economy in the post-war period. Many have called the global financial crisis that began in the United States in 2007 a ‘Minsky crisis’, and these original contributions demonstrate precisely why both academic economists as well as policymakers have turned to Minsky for guidance. The book brings together the foremost Minsky scholars to provide a comprehensive overview of his approach, with extensions to bring the analysis up to date.

Policy Forum: Prospects for Future Policy

The policy forum characteristic of all Levy Institute sponsored conferences was scheduled as a debate for or against the major public policy issues raised in the individual chapters of this volume. The panelists were Robert B. Avery, Professor of Economics at Cornell University; Sheldon Danziger, Professor of Economics at the University of Michigan; William T. Dickens, Professor of Economics at the University of California-Berkeley; Robert Haveman, Professor of Economics at the University of Wisconsin-Madison; Timothy M. Smeeding, Professor of Economics at Syracuse University; Edward N. Wolff, Professor of Economics at New York University; and Dimitri B. Papadimitriou (moderator), Professor of Economics at Bard College and executive director of the Jerome Levy Economics Institute.