Contributors

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Contributors

Riccardo Bellofiore is Professor of Political Economy at the University of Bergamo, Italy. He teaches monetary economics, international monetary economics and history of economic thought. His research interests include the economics of globalization, the development and crisis of contempo- rary capitalism, endogenous theories of money, Marxian value and crisis theory, and economic philosophy. He has edited: Marxian Economics: A Reappraisal; Global Money, Capital Restructuring and the Changing Patterns of Labour; The Economic Legacy of Hyman P. Minsky; The Constitution of Capital. Essays on Volume I of ‘Capital’; Re-reading Marx: New Perspectives after the Critical Edition; Rosa Luxemburg and the Critique of Political Economy. He has written extensively on the current economic crisis. On the same topic he has published in Italian two short books: La crisi capitalistica, la barbarie che avanza [The capitalist crisis: the coming barbarism] and La crisi globale: l’Europa, l’euro, la Sinistra [The global crisis: Europe, the euro, the left]. Hassan Bougrine is Full Professor at the Department of Economics, Humanities and Social Sciences, Laurentian University, Ontario, Canada. His research has covered various subject areas in the field of economics ranging from regional economics to issues of international development, money and banking, public finance, labour and employment, public policy, international trade and finance. He has published several papers in peer-reviewed international journals and edited, co-edited and contributed to chapters of several books. He has also acted as a consultant to several international development agencies such as CIDA and IDRC. Victoria Chick is Emeritus Professor of Economics at University College London, UK. Her work is to be found in three books, The Theory of Monetary Policy (1973 and 1977); Macroeconomics after Keynes: A Reconsideration of The General Theory (1983); and On Money, Method and Keynes: Selected Essays of Victoria Chick (P. Arestis and S.C. Dow, eds, 1992); and articles on monetary theory and policy, methodology and the economics of Keynes. She has served on the Council and Executive Committee of the Royal Economic Society and on the editorial boards of several journals, and was co-founder of the Post-Keynesian Economics

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Study Group. She has had visiting appointments at several universities, including the Bundesbank visiting professorship in Berlin, Germany. A two-volume festschrift was prepared in her honour, edited by P. Arestis, M.J. Desai and S.C. Dow: Money, Macroeconomics and Keynes and Methodology, Microeconomics and Keynes (Routledge, 2001). Massimo Cingolani works at the European Investment Bank (EIB) and he is affiliated to the Italian Economic Association (SIE). He is interested in economic policy analysis. He recently followed an EIB-sponsored research programme on ‘Public investment under budgetary constraints in new member states’ in the context of which he published two articles on ‘PPP financing in the road sector: a disequilibrium analysis based on the monetary circuit’ (Transition Studies Review, 2010) and ‘Public investment under disequilibrium: a post Keynesian viewpoint’ (in Public Investment, Growth and Fiscal Constraints: Challenges for the EU New Member States, edited by Massimo Florio, 2011). He also wrote recently on ‘Interest, growth, and income distribution: what ought to be the objec- tives of EU macroeconomic policy coordination?’ in a special issue of the International Journal of Political Economy (40(4)), which he coedited with Mario Seccareccia and Massimo Florio. Eugenia Correa is an economics professor in the Faculty of Economics’s postgraduate programme at the National Autonomous University of Mexico (UNAM) and a member of the Fiscal and Financial Economics Research Unit at the Institute of Economic Research at the same university. She earned her Doctorate in Economics, and Masters in Latin American Studies at the UNAM. She is a member of the Mexican Academy of Sciences. She is also a member of the Mexican Academy of Political Economy and the National System of Researchers. She is a member of the Federation of University Women and a founding member of the Celso Furtado Eurolatinamerican Network of Development Studies. She has authored various books and articles focusing mainly on issues in economic development and financial economics. Eugenia is a founder and member of the editorial board of Ola Financiera. Sheila Dow is Emeritus Professor of Economics at the University of Stirling in Scotland, UK and Adjunct Professor of Economics at the University of Victoria in Canada. Throughout her career, she has worked on the theory of money and banking, and the history and methodology of economic thought, both informing and informed by her work in public service in the UK and Canada (most recently as a special advisor on monetary policy to the UK Treasury Select Committee). Her latest book is Foundations for New Economic Thinking: a collection of essays (2012). She is co-convenor

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of SCEME, co-editor of the WEA’s online journal, Economic Thought and a member of the Center on Capitalism and Society. Past positions include Chair of the International Network for Economic Method and Co-Chair of the Post Keynesian Economics Study Group. Thomas Ferguson is Professor of Political Science at the University of Massachusetts, Boston, USA and Senior Fellow at the Roosevelt Institute. He is also Director of Research Projects and a member of the Advisory Board of the Institute for New Economic Thinking. He received his PhD from Princeton University, USA and taught formerly at MIT and the University of Texas, Austin, USA. He is the author or co-author of several books, including Golden Rule (1995) and Right Turn (1986). His articles have appeared in many scholarly journals, including the Quarterly Journal of Economics, International Organization, International Studies Quarterly, and the Journal of Economic History. He is Contributing Editor at AlterNet, Contributing Editor to The Nation, and a member of the editorial boards of the Journal of the Historical Society and the International Journal of Political Economy. Mathew Forstater is Professor of Economics, University of Missouri– Kansas City, USA and Research Associate, Levy Economics Institute. His articles include ‘The methodology of Lowe’s political economics and the reconstruction of classical political economy’ (Économie Appliquée, 1994), ‘Flexible full employment’ (Journal of Economic Issues, 1998), ‘Working backwards’ (Review of Political Economy, 1999), ‘Adolph Lowe on freedom, education, and socialization’ (Review of Social Economy, 2000), ‘Phenomenological and interpretive-structural approaches to economics and sociology’ (Review of Austrian Economics, 2001), ‘Knowledge, markets, and society’ (History of Economic Ideas, 2002), ‘Public employment and environmental sustainability’ (Journal of Post Keynesian Economics, 2003), ‘Visions and scenarios’ (Ecological Economics, 2004), ‘Taxation and primitive accumulation’ (Research in Political Economy, 2005), ‘Green jobs’ (Challenge, 2006), ‘From civil rights to economic secu- rity’ (International Journal of Political Economy, 2007), ‘Jobs and freedom now!’ (Review of Black Political Economy, 2012), and ‘Working for a better world’ (Philosophy and Social Criticism, 2013). Alicia Girón is a researcher in the Fiscal and Financial Economics Research Unit at the Institute of Economic Research at the National Autonomous University of Mexico (UNAM) and is a Professor in the Faculty of Economics’s postgraduate programme at the same university. She earned her Doctorate and Masters degrees in Latin American Studies, and her Bachelor’s degree in Economics, all at the UNAM. She

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is a member of the Mexican Academy of Sciences. She is also a member of the Mexican Academy of Political Economy and the National System of Researchers. She is a member of the Federation of University Women and a founding member of the Celso Furtado Eurolatinamerican Network of Development Studies. She has been President of the North American Economic Financial Association, and Vice-President and President elect of the International Association for Feminist Economics (IAFFE). She received the National University Prize in Economic Research granted by the UNAM. She received the Gabino Barrera Medal from the UNAM and Sor Juana Inés de la Cruz recognition of her academic trajectory, granted by the UNAM. Alicia has been an invited professor in various universities in Mexico and abroad. She has authored various books and articles focusing mainly on issues in economic development and financial economics. Alicia is a founder and member of the editorial board of Ola Financiera. She is the Editor of Problems in Development: Latin American Economic Journal (Problemas del Desarrollo, Revista Latinoamericana de Economía). Claude Gnos is Senior Research Associate at Centre d’Etudes Monétaires et Financières (Université de Bourgogne, France) and at the International Economic Policy Institute, Canada. He is the author of L’Euro (Management et Société, 1998) and Les Grands Auteurs en Économie (Management et Société, 2000), and co-editor, with Louis-Philippe Rochon, of Post Keynesian Principles of Economic Policy (Edward Elgar, 2005), The Keynesian Multiplier (2008), Monetary Policy and Financial Stability: A Post-Keynesian Agenda (2008), Employment, Growth and Development: A Post-Keynesian Approach (2010) and Credit, Money and Macroeconomic Policy (2011). He is also co-editor with Sergio Rossi of Modern Monetary Macroeconomics (2012). He has published a number of articles on monetary economics, circuit theory, and the history of economic thought in books and refereed journals (Journal of Post Keynesian Economics, Review of Political Economy, International Journal of Political Economy, History of Economic Ideas, Economie Appliquée, Revue d’Economie Politique and Economies et Societés). He is a member of the editorial board of the Review of Keynesian Economics. Robert Johnson serves as the Executive Director of the Institute for New Economic Thinking and is a Senior Fellow and Director of the Global Finance Project for the Franklin and Eleanor Roosevelt Institute. He was formerly a Managing Director at Soros Fund Management and the Bankers Trust Company. He received a PhD and MA in Economics from Princeton University and a BS in both Electrical Engineering and Economics from the Massachusetts Institute of Technology, USA. He has also served as the Chief Economist of the US Senate Banking Committee

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and Senior Economist of the US Senate Budget Committee. He currently sits on the board of directors of both the Economic Policy Institute and the Campaign for America’s Future and recently served on the United Nations Commission of Experts on International Monetary Reform. He was an Executive Producer of the Oscar-winning documentary, Taxi to the Dark Side, directed by Alex Gibney. Marc Lavoie is Professor in the Department of Economics at the University of Ottawa, Canada where he has taught for more than 30 years, and an IMK Research Fellow. He has written Foundations of Post-Keynesian Economic Analysis (1992), Introduction to Post-Keynesian Economics (2006) (with French, Spanish, Japanese and Chinese ver- sions), and Monetary Economics: An Integrated Approach to Money, Income, Production and Wealth (2007) with Wynne Godley. With Mario Seccareccia, he has written the Canadian edition of the Baumol and Blinder first-year textbook (2009). He has edited Alfred Eichner and Post-Keynesian Economics (with L.-P. Rochon and M. Seccareccia, 2010), Selected Writings of Wynne Godley (with Gennaro Zezza, 2012), In Defense of Post-Keynesian and Heterodox Economics (with Fred Lee, 2013), and Wage-Led Growth (with Engelbert Stockhammer, forthcom- ing). Lavoie’s main fields are growth theory, employment theory and monetary economics, in particular within the framework of the stock- flow consistent approach. Wesley C. Marshall is full Professor-Researcher at the Metropolitan Autonomous University – Iztapalapa (UAM), Mexico. He received his undergraduate degree in government from the College of William and Mary, USA, and his Doctoral degree in Latin American Studies from the National Autonomous University of Mexico, where he also undertook his postdoctoral studies at the Economics Faculty. He is a member of the Celso Furtado Eurolatinamerican Network of Development Studies and the National System of Researchers. He is on the editorial board of Ola Financiera and of the Review of Keynesian Economics, and is the Director of the Center for North American Financial and Economic Studies. He is an active participant in national and international conferences, and has articles and chapters of books published in English and Spanish. He is the author of the book México desbancado: causas y consecuencias de la pérdida de la banca nacional. Edward Nell is the Malcolm B. Smith Professor of Economics at the New School for Social Research in New York, USA. He studied at Princeton, USA and Oxford, UK and has lectured all over the world. He has written over 100 articles and is the author or editor of 22 books, including the

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General Theory of Transformational Growth, and most recently, Rational Econometric Man (with K. Errouaki). Louis-Philippe Rochon is an Associate Professor of Economics at Laurentian University, Canada where he is also the Director of the International Economic Policy Institute. He is co-editor of the Review of Keynesian Economics. He is a Research Fellow at the Centre d’Études monétaires et financières, France and Senior Fellow at the Center for North American Financial and Economic Studies – CNAFES, Mexico. His specializations are macroeconomic theory and policy, monetary theory and policy, endogenous money and the monetary circuit. He has written or edited over 18 books, including Credit, Money and Production: An Alternative Post-Keynesian Approach (1999), Credit, Money and Macroeconomic Policy: A Post-Keynesian Approach (2011, with C. Gnos), The Keynesian Multiplier: A Post-Keynesian Debate (2008, with C. Gnos), Théories monétaires post keynésiennes (2003, with P. Piégay; Spanish version in 2006), and Studies in Modern Theories of Money (2003, with S. Rossi). He is currently editing The Elgar Encyclopedia on Central Banking (2013, with Sergio Rossi and Matias Vernengo). He has published close to 90 articles in books and scholarly journals. He has been Visiting Professor or scholar in Australia, Brazil, France, Italy and Mexico. He serves on the editorial boards of European Journal of Economics and Economic Policy: Intervention, International Journal of Political Economy, Ola Financiera and Problemas del Desarrollo. Mario Seccareccia is Full Professor at the Department of Economics, University of Ottawa, Canada, where since 1978 he has been teaching macroeconomics, monetary theory, labour economics, history of economic thought and economic history. He has published over 100 academic articles in scientific journals or chapters of books, and has authored or edited more than a dozen books and monographs on such disparate topics as the works of Milton Friedman (1993) and on central banking in the modern world (2004), as well as some 25 special thematic issues of academic journals. At the same time, he has been Visiting Professor in a number of universities in France (namely, the universities of Bourgogne, Grenoble, and Paris-Sud), as well as in Mexico (UNAM). He is also a research associate at the Canadian Centre for Policy Alternatives in Ottawa and, since 2004, has been the editor of the New York-based International Journal of Political Economy. John Smithin is Professor of Economics in the Department of Economics and the Schulich School of Business, York University, Toronto, Canada. He holds a PhD from McMaster University, Canada and has previously

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taught at the University of Calgary, Canada and Lanchester Polytechnic (now Coventry University) in England, UK. His main research interests are in the fields of monetary theory and the philosophy of money and finance. He is the author/editor (co-author/co- editor) of Keynes and Public Policy after Fifty Years (1988), Macroeconomics after Thatcher and Reagan (1990), Economic Integration between Unequal Partners (1994), Macroeconomic Policy and the Future of Capitalism (1996), Money, Financial Institutions and Macroeconomics (1997), What is Money? (2000), Globalization and Economic Growth (2002), Controversies in Monetary Economics (1994, 2003), Fundamentals of Economics for Business (2006, 2009) and Money, Enterprise and Income Distribution (2009). He is currently working on a new book with the title Essays in the Fundamental Theory of Monetary Economics and Macroeconomics, which aims at a definitive treatment of the issues in these fields. Bernard Vallageas is Associate Professor Emeritus of Economics and Financial Analysis at Paris-Sud University, France. He has been a Visiting Professor at University of Missouri-Kansas City, USA. He is one of the originators of the theory of the monetary circuit, and worked on the profit paradox in the circuit, under the supervision of Bernard Schmitt. Following Joan Robinson’s interpretation of Marx, he gives an explana- tion of profit, which is compatible with firm accounting and Keynes’s Treatise on Money, and he has built and applied to the French economy a theory of ‘detransformation’ of prices in income values, which is similar to the consolidation of balance sheets as performed by firms’ accountants. With the crisis, he has studied the place of banks in the circuit. He is pres- ently studying the history of accounting to show that our definition of stocks and flows comes from history. Gregorio Vidal is a full Professor-Researcher in the Department of Economics at the Autonomous Metropolitan University – Iztapalapa (UAM-I), in Mexico City. He received his PhD from the Faculty of Political and Social Sciences at the National Autonomous University of Mexico (UNAM). Gregorio is the Research and Graduate Coordinator in the Division of Social Sciences and Humanities in the UAM-I. He is a regular member of the Mexican Academy of Sciences and a member of the National System of Researchers of Mexico, a Professor in the postgraduate programme of Social Studies at UAM-I and the postgraduate program of Economics at the UNAM. He is Director of the Center for Development Studies Spain–Mexico and coordinator of the research project: ‘Development and its actors: regional and global policies’. His research interests are macroeconomic policy, international economics, corporations and foreign direct investments.

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L. Randall Wray is a Professor of Economics at the University of Missouri- Kansas City (UMKC), USA and Senior Scholar at the Levy Economics Institute of Bard College, New York, USA. He is a past President of the Association for Institutionalist Thought (AFIT) and served on the board of directors of the Association for Evolutionary Economics (AFEE). A student of Hyman P. Minsky while at Washington University in St Louis, USA, Wray has focused on monetary theory and policy, macroeconomics, financial instability and employment policy. He received a BA from the University of the Pacific and an MA and PhD from Washington University in St Louis, USA. He has served as a visiting professor at the University of Rome-La Sapienza, Italy, the University of Bologna, Italy, the University of Paris-South, France, and UNAM, Mexico City, Mexico. He was the Bernardin-Haskell Professor, UMKC, Fall 1996, and joined the UMKC faculty as Professor of Economics in August 1999.

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