The thesis of this paper is that a free-market capitalist economy is biased against supplying basic needs of poor consumers and also biased against creating inventing and using green technology. We begin by identifying the patterns of perverse logic in the system of market supply and in the process

The aims of this paper are to investigate the resilience of capitalist economies to recessions, and to establish stylised facts on the duration and size of recessions which models of the business cycle in economic theory need to be able to replicate. Evidence is taken from 17 Western economies over

The KMG growth dynamics in Chiarella and Flaschel (2000) assume that wages, prices and quantities adjust sluggishly to disequilibria in labor and goods markets. This paper modifies the KMG model by introducing Steindlian features of capital accumulation and income distribution. The resulting KMGS(teindl) model replaces the neoclassical medium- and long-run features of the original KMG model by a Steindlian approach to capital accumulation, as developed in a paper by Flaschel and Skott (2005). The model is of dimension 4 or 5, depending on the specification of the labor supply. We prove stability assertions and show that loss of stability always occurs by way of Hopf-bifurcations. When global stability gets lost, a nonlinear form of the Steindlian reserve army mechanism can ensure bounded dynamics. These dynamics are studied numerically and shown to exhibit long phases of prosperity, but also long phases of stagnant growth.

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to thank the organizers of the RESER conference for their invitation to present these views. 2

Abstract We explore how disclosure requirements that regulate the release of new information may affect the dynamics of financial markets. Our analysis is based on three agent-based financial market models that are able to produce realistic financial market dynamics. We discover that the average deviation between market prices and fundamental values increases if new information is released with a delay, while the average price volatility is virtually unaffected by such regulations. Interestingly, the tails of the distribution of returns become fatter if fundamental data is released less continuously, indicating an increase in financial market risk.

2 Unemployment has been a concern of political economy since its inception. Petty, whose work

Abstract not found

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