P. Arestis 
Microeconomics, Macroeconomics and Economic Policy [PDF ebook] 
Essays in Honour of Malcolm Sawyer

Introduction: Malcolm Sawyer: An Appreciation; P.Arestis PART I: MICROECONOMICS The Function of Firms: Alternative Views; N.Shapiro Industrial Structure and the Macro-economy; K.Cowling & P.Tomlinson Unemployment, Power Relations, and the Quality of Work; D.Spencer The Problem of Young People Not in Employment, Education or Training: Is there a NEET Solution?; J.Mc Combie & M.Pike The Business of Macro Imbalances: Comparing ‘Gluts’ in Savings, Money and Profits; W.Milberg & L.Schmitz PART II: MACROECONOMICS A Critical Appraisal of the New Consensus Macroeconomics; P.Arestis Bringing Together the Horizontalist and the Structuralist Analyses of Endogenous Money; G.Fontana Economic Growth and Income Distribution: Kalecki, the Kaleckians and their Critics; A.Krishna Dutt The Influence of Kalecki on Joan Robinson’s Approach to Economics; G.Harcourt & P.Kriesler Shared Ideas Amid Mutual Incomprehension: Kalecki and Cambridge; J.Toporowski PART III: ECONOMIC POLICY Is There a Role for Active Fiscal Policies? Supply-side and Demand-side Effects of Fiscal Policies; J.Ferreiro, T.Garcia del Valle, C.Gomez & F.Serrano Fiscal Policy and Private Investment in Mexico; E.Caballero & J.López A Keynes-Kalecki Model of Cyclical Growth with Agent-Based Features; M.Setterfield & A.Budd Unsurprising to Keynes, Shocking to Economists: The Normalization of Capital Controls in the Global Financial Crisis; I.Grabel Regulating Wall Street: Exploring the Political Economy of the Possible; G.Epstein & R.Pollin

ANDREW BUDD received a B.S. in Economics and Computer Science from Trinity College (Hartford) in 2008, and a Masters of Business Administration from the Sloan School of Management at MIT in 2010. His research interests include Post-Keynesian Economics, Agent Based Simulation, Data Mining and Visualization. He is now employed as a Senior Project Manager in the Technology Innovation group at ESPN, where he oversees the development of novel statistical analysis systems. KEITH COWLING is Professor of Economics at the University of Warwick. He was previously President of the European Association for Research in Industrial Economics (EARIE) and editor of the International Journal of Industrial Organization (IJIO). TERESA GARCÍA DEL VALLE is Associate Professor of Statistics at the University of the Basque Country, in Bilbao, Spain. She has a Ph D from the University of the Basque Country. Her research interests are in the area of applied statistics. She has been invited as visiting Professor by a number of Latin American universities, such as Universidad Autónoma Juan Misael Saracho (Tarija, Bolivia), Universidad Nacional Autónoma de México (México, D.F.) and Universidad del Salvador (El Salvador). AMITAVA KRISHNA DUTT received his Ph D in economics from MIT and is Professor of Economics and Political Science at the University of Notre Dame. His areas of specialization are macroeconomic theory, development economics, international economics and political economy and his current research focuses on global uneven development, growth and distribution, and consumption and happiness. GERALD EPSTEIN is Professor of Economics and a founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst. JESUS FERREIRO is Associate Professor in Economics at the University of the Basque Country, in Bilbao, Spain, and an Associate Member of the Centre for Economic and Public Policy, University of Cambridge. His research interests are in the areas of macroeconomic policy, labour market and international financial flows. GIUSEPPE FONTANA is Professor of Monetary Economics at the University of Leeds (UK) and Associate Professor at the Università del Sannio (Italy). He has recently been awarded the 2008 G.L.S. Shackle Prize, St Edmunds’ College, Cambridge (UK). He is a Life Member Fellow at Clare Hall (University of Cambridge, UK), a Visiting Research Professor at the Centre for Full Employment and Price Stability (University of Missouri Kansas City, USA), and an Associate Member of the Cambridge Centre for Economic and Public Policy (University of Cambridge, UK). CARMEN GOMEZ is Associate Professor in Economics at the University of the Basque Country, in Bilbao, Spain. Her research interests are in the areas of macroeconomic policy, labour market and foreign direct investments. ILENE GRABEL is Professor at the Josef Korbel School of International Studies at the University of Denver. She has been a Research Scholar at the Political Economy Research Institute of the University of Massachusetts since 2007. GEOFFREY C. HARCOURT was educated at the University of Melbourne and Cambridge. Half his teaching life was spent at the University of Adelaide, the other half at the University of Cambridge. He is Emeritus Reader in the History of Economic Theory, Cambridge, (1998), Emeritus Fellow, Jesus College, Cambridge (1998) and Professor Emeritus, Adelaide (1988). Currently he is Visiting Professorial Fellow, UNSW (2010-2013). PETER KRIESLER was educated at the University of Sydney and the University of Cambridge, where he also taught before moving to a full time position at the University of New South Wales, where he is currently an Associate Professor. He is an executive editor of the Economic and Labour Relations Review, and on the board of the Australian Journal of Human Rights, the Cambridge Journal of Economics and History of Economics Review. JULIO LÓPEZ received his BA in economics at the Universidad de Chile, and later took his Ph D in economics at the University of Warsaw. He is currently professor of macroeconomics at the Universidad Nacional Autonoma de Mexico. He has been invited professor at the Universidad Autonoma de Barcelona; Ecole des Hautes Etudes en Sciences Sociales, Paris; and Universidade Federal do Rio de Janeiro. JOHN MCCOMBIE is Director, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge, UK; Fellow and Director of Studies in Economics, Downing College; Cambridge; Director of Studies in Land Economy, Downing College, Christ’s College and Girton College, Cambridge. He did both his undergraduate degree and his Ph.D. at the University of Cambridge. He was recently Specialist Advisor to the House of Lords and consultant to the World Bank and the Asian Development Bank. WILLIAM MILBERG is Professor of Economics and Chair of the Economics Department at the New School for Social Research in New York and a Research Fellow at the New School’s Schwartz Centre for Economic Policy Analysis. He is currently a Research Coordinator for the DFID project, ‘Capturing the Gains from Globalization’. He has served as a consultant to the UNDP, the ILO, the UNCTAD and the World Bank. FELIPE SERRANO is Professor in Economics at the University of the Basque Country, in Bilbao, Spain. He is the head of the Department of Applied Economics V at the University of the Basque Country. His research interests are in the areas of social security, the welfare state, labour market, innovation and economic policy. MAUREEN PIKE read German and Economics for the BA at Kingston Polytechnic. She subsequently received a Masters in Economics from Queen Mary College, University of London, followed by a Ph D at the London School of Economics. She was a member of the Departments of Economics at the University of Hull and Queen Mary College, University of London. She is currently Principal Lecture in Economics at Oxford Brookes University. She has been a Visiting Scholar at the University of Wisconsin-Milwaukee and University of Colgate in the United States and at Swinburne, University of Technology, Australia. She is an Associate Member of the Cambridge Centre of Economic and Public Policy, University of Cambridge. ROBERT POLLIN is Professor of Economics and founding co-director of the Political Economy Research Institute (PERI) at the University of Massachusetts-Amherst. His research centres on macroeconomics, conditions for low-wage workers in the US and globally, the analysis of financial markets, and the economics of building a clear-energy economy in the US. He is currently consulting with the US Department of Energy on the economic analysis of clean energy investments. MARK SETTERFIELD is Professor of Economics in the Department of Economics at Trinity College, Hartford, Connecticut, Associate Member of the Cambridge Centre for Economic and Public Policy at Cambridge University, and Senior Research Associate at the International Economic Policy Institute, Laurentian University. His research interests are macrodynamics and Post-Keynesian economics. NINA SHAPIRO is Professor of Economics at Saint Peter’s College, New Jersey, and a member of the managerial board of editors of Journal of Post Keynesian Economics. She received her Ph.D. from New School for Social Research, New York, and taught for a number of years at Rutgers University, where she directed the graduate study in the history of economic thought. LAUREN SCHMITZ is Research Assistant at the New School’s Schwartz Center for Economic Policy Analysis and a Ph.D. candidate in the Department of Economics at the New School. DAVID A. SPENCER is Senior Lecturer in Economics at Leeds University Business School, the University of Leeds, UK. His main research interests lie in the areas of the economics and political economy of work and labour. He has written on the nature and development of ideas on work in economics as well ason issues of labour supply, employment and unemployment, and work organisation. JAN TOPOROWSKI studied Economics at Birkbeck College, University of London, and the University of Birmingham. He has worked in fund management and international banking. In 2004 and 2005 he was Leverhulme Fellows and Official Visitor in the Faculty of Economics and Politics, University of Cambridge. In 2005 he was a Research Fellow at the Bank of Finland. Jan Toporowski is currently Reader in Economics and Chair of the Economics Department of the School of Oriental and African Studies, University of London. EMILIO CABALLERO URDIALES is a Professor of Economics at Mexico’s National University. His publications include: Los Ingresos tributarios de México (2009, Editorial Trillas, México). Los Ingresos Tributarios del Sector Público de México. (2006, UNAM, México), and El Tratado de Libre Comercio entre México, Estados Unidos Y Canadá: Ventajas y Desventajas (1991, Diana, México).