Articles

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Avoiding Another Meltdown (with Gerald Epstein), Challenge (2009)

The authors argue that the current financial crisis, the worst since the Great Depression, can...

 

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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...

 

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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...

 

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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...

 

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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...

 

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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...

 

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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...

 

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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...

 

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If Financial Market Competition is so Intense, Why are Financial Firm Profits so High? Reflections on the Current ‘Golden Age’ of Finance, PERI Working Papers (2007)

In 1997 former Federal Reserve Board Chairman Paul Volker posed a question about the commercial...

 

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The Effects of Neoliberal "Reforms" on the Post-Crisis Korean Economy (with Kang-Kook Lee), PERI Working Papers (2005)

In December 1997 the IMF offered Korea loans to help alleviate its financial crisis. These...

 

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Was the IMF's Imposition of Economic Regime Change in Korea Justified? A critique of the IMF's economic and political role before and after the crisis (with Kang-Kook Lee), PERI Working Papers (2004)

As late as October 1997 the IMF declared that the Korean economy was experiencing a...

 

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Was the IMF's Imposition of Economic Regime Change Justified? A Critique of the IMF's Economic and Political Role in Korea During and After the Crisis (2004)

As late as October 1997 the IMF declared that the Korean economy was experiencing a...

 

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The Neoliberal Paradox: The Impact of Destructive Product Market Competition and Impatient Finance on Nonfinancial Corporations in the Neoliberal Era (2003)
 

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The Effects of Increased Product Market Competition and Changes in Financial Markets on the Performance of Nonfinancial Corporations in the Neoliberal Era, PERI Working Papers (2002)
 

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Democratizing Global Economic Governance: A PERI Symposium (with Jane D'Arista, Keith Griffin, Lisa Jordan, Eva Paus, and J. Mohan Rao), PERI Working Papers (2001)
 

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Economic Performance in Post-Crisis Korea: A Critical Perspective on Neoliberal Restructuring (with Kang-Kook Lee), PERI Working Papers (2001)

This paper evaluates the neoliberal economic restructuring process implemented in Korea following the 1997 Asian...

 

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Korea's Neoliberal Restructuring: Miracle or Disaster? (2001)
 

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Can the Global Neoliberal Regime Survive Victory in Asia? The Political Economy of the Asian Crisis (2000)
 

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Slow Growth, Destructive Competition, and Low Road Labor Relations: A Keynes-Marx-Schumpeter Analysis of Neoliberal Globalization, PERI Working Papers (2000)
 

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Structural Contradictions of the Global Neoliberal Regime (2000)
 

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The Case for Capital Controls (2000)
 

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Trading State-Led Prosperity for Market-Led Stagnation: From the Golden Age to Global Neoliberalism (2000)
 

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The Investment Decision of the Post-Keynesian Firm: A Suggested Microfoundation for Minsky's Investment Instability Thesis (with Jonathan P. Goldstein) (1992)

In this paper, Crotty and Goldstein undertake the formulation of a model of enterprise investment...

 

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The Impact of Profitability, Financial Fragility and Competitive Regime Shifts on Investment Demand: Empirical Evidence (with Jonathan P. Goldstein) (1992)

Crotty and Goldstein have developed a hybrid post-Keynesian/ neo-Schumpeterian theory of investment demand. In this...