Professor Crotty is a macro economist with broad interests whose research in theory and policy attempts to integrate the complementary analytical strengths of the Marxian and Keynesian traditions. His writings have appeared in such diverse journals as the American Economic Review, the Quarterly Journal of Economics, the Cambridge Journal of Economics, the Review of Radical Economics, Monthly Review, the Journal of Post Keynesian Economics, and the Journal of Economic Issues, and in many edited collections. His research interests include: economic methodology; the implications of radical uncertainty for macro theory and policy; theories of financial markets and their implications for understanding financial booms and crises; Marxian and Keynesian perspectives on investment theory; the structure and performance of the global neoliberal economy; theories of competition and their impact on theories of macro dynamics; the financialization of the nonfinancial firm; and the political economy of South Korea.
Articles
Avoiding Another Meltdown (with Gerald Epstein), Challenge (2009)
The authors argue that the current financial crisis, the worst since the Great Depression, can...
Controlar los productos financieros peligrosos mediante un principio de precaución financiera (with Gerald Epstein), EKONOMIAZ (2009)
High risk, opaque, and extremely complex financial products such as collateralized debt obligations and credit...
Controlling Dangerous Financial Products through A Financial Pre-Cautionary Principle (with Gerald Epstein), EKONOMIAZ (2009)
High risk, opaque, and extremely complex financial products such as collateralized debt obligations and credit...
Other
The Great Austerity War: What Caused the Deficit Crisis and Who Should Pay to Fix It? (2011)
Rapidly rising deficits at both the federal and state and local government levels, along with...
The Realism of Assumptions Does Matter: Why Keynes-Minsky Theory Must Replace Efficient Market Theory as the Guide to Financial Regulation Policy (2011)
The radical deregulation of financial markets after the 1970s was a precondition for the explosion...
The Bonus-Driven “Rainmaker” Financial Firm: How These Firms Enrich Top Employees, Destroy Shareholder Value and Create Systemic Financial Instability, Economics Department Working Paper Series (2009)
We recently experienced a global financial crisis so severe that only massive rescue operations by...
Proposals for Effectively Regulating the U.S. Financial System to Avoid Yet Another Meltdown (with Gerald Epstein), Economics Department Working Paper Series (2008)
It is now clear that we are in the midst of the worst financial crisis...
Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’, Economics Department Working Paper Series (2008)
The main thesis of this paper is that the ultimate cause of the current global...