Details about James R. Crotty

This author is deceased (2023-01-09).

Access statistics for papers by James R. Crotty.

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Short-id: pcr99

Working Papers

2011

1. The Great Austerity War: What Caused the Deficit Crisis and Who Should Pay to Fix It?
   UMASS Amherst Economics Working Papers, University of Massachusetts Amherst, Department of Economics View citations (5)
   Also in Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst (2011) View citations (5)
   MPRA Paper, University Library of Munich, Germany (2011) View citations (5)
   See also Journal Article The great austerity war: what caused the US deficit crisis and who should pay to fix it?, Cambridge Journal of Economics, Cambridge Political Economy Society (2012) View citations (23) (2012)
2. The Realism of Assumptions Does Matter: Why Keynes-Minsky Theory Must Replace Efficient Market Theory as the Guide to Financial Regulation Policy
   Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst View citations (7)
   Also in UMASS Amherst Economics Working Papers, University of Massachusetts Amherst, Department of Economics (2011) View citations (7)

2010

3. The Bonus-Driven “Rainmaker” Financial Firm: How These Firms Enrich Top Employees, Destroy Shareholder Value and Create Systemic Financial Instability (revised)
   Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst View citations (5)

2009

4. The Bonus-Driven “Rainmaker” Financial Firm: How These Firms Enrich Top Employees, Destroy Shareholder Value and Create Systemic Financial Instability
   UMASS Amherst Economics Working Papers, University of Massachusetts Amherst, Department of Economics View citations (7)

2008

5. Proposals for Effectively Regulating the U.S. Financial System to Avoid Yet Another Meltdown
   UMASS Amherst Economics Working Papers, University of Massachusetts Amherst, Department of Economics View citations (6)
   Also in Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst (2008) View citations (7)
6. Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’
   UMASS Amherst Economics Working Papers, University of Massachusetts Amherst, Department of Economics View citations (12)
   Also in Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst (2008) View citations (12)
   See also Journal Article Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture', Cambridge Journal of Economics, Cambridge Political Economy Society (2009) View citations (219) (2009)

2007

7. If Financial Market Competition is so Intense, Why are Financial Firm Profits so High? Reflections on the Current ‘Golden Age’ of Finance
   Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst View citations (17)

2005

8. The Effects of Neoliberal "Reforms" on the Post-Crisis Korean Economy
   Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst View citations (6)
9. The Neoliberal Paradox: The Impact of Destructive Product Market Competition and Impatient Finance on Nonfinancial Corporations in the Neoliberal Era
   Research Briefs, Political Economy Research Institute, University of Massachusetts at Amherst View citations (35)
   See also Journal Article The Neoliberal Paradox: The Impact of Destructive Product Market Competition and Impatient Finance on Nonfinancial Corporations in the Neoliberal Era, Review of Radical Political Economics, Union for Radical Political Economics (2003) View citations (49) (2003)

2004

10. 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
    Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst View citations (2)

2002

11. The Effects of Increased Product Market Competition and Changes in Financial Markets on the Performance of Nonfinancial Corporations in the Neoliberal Era
    Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst View citations (15)

2001

12. Economic Performance in Post-Crisis Korea: A Critical Perspective on Neo-Liberal Restructuring
    Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst View citations (6)
13. Korea's Neoliberal Restructuring: Miracle or Disaster?
    Published Studies, Political Economy Research Institute, University of Massachusetts at Amherst View citations (1)

2000

14. Can the Global Neoliberal Regime Survive Victory in Asia? The Political Economy of the Asian Crisis
    Published Studies, Political Economy Research Institute, University of Massachusetts at Amherst View citations (9)
15. Slow Growth, Destructive Competition, and Low Road Labor Relations: A Keynes-Marx-Schumpeter Analysis of Neoliberal Globalization
    Working Papers, Political Economy Research Institute, University of Massachusetts at Amherst View citations (7)
16. Structural Contradictions of the Global Neoliberal Regime
    Published Studies, Political Economy Research Institute, University of Massachusetts at Amherst View citations (10)
    See also Journal Article Structural Contradictions of the Global Neoliberal Regime, Review of Radical Political Economics, Union for Radical Political Economics (2000) View citations (9) (2000)
17. The Case for Capital Controls
    Published Studies, Political Economy Research Institute, University of Massachusetts at Amherst View citations (1)
18. Trading State-Led Prosperity for Market-Led Stagnation: From the Golden Age to Global Neoliberalism
    Published Studies, Political Economy Research Institute, University of Massachusetts at Amherst View citations (6)

1996

19. Were Keynes's Views on the Economic Role of the State More Radical and Interventionist Then U.S. Keynesians Acknowledged?: Evidence From the 1920s
    Discussion Paper Series, Institute of Economic Research, Hitotsubashi University

1992

20. The Impact of Profitability, Financial Fragility and Competitive Regime Shifts on Investment Demand: Empirical Evidence
    Economics Working Paper Archive, Levy Economics Institute
21. The Investment Decision of the Post-Keynesian Firm: A Suggested Microfoundation for Minsky's Investment Instability Thesis
    Economics Working Paper Archive, Levy Economics Institute View citations (5)

Journal Articles

2018

1. The Influence of the Review of Radical Political Economics: Insights on Selected Key Articles
   Review of Radical Political Economics, 2018, 50, (3), 549-575

2012

2. The great austerity war: what caused the US deficit crisis and who should pay to fix it?
   Cambridge Journal of Economics, 2012, 36, (1), 79-104 View citations (23)
   See also Working Paper The Great Austerity War: What Caused the Deficit Crisis and Who Should Pay to Fix It?, UMASS Amherst Economics Working Papers (2011) View citations (5) (2011)

2009

3. Avoiding Another Meltdown
   Challenge, 2009, 52, (1), 5-26 View citations (7)
4. Controlar los productos financieros peligrosos mediante un principio de precaución financiera
   EKONOMIAZ. Revista vasca de Economía, 2009, 72, (03), 270-294
5. Controlling Dangerous Financial Products through A Financial Pre-Cautionary Principle
   EKONOMIAZ. Revista vasca de Economía, 2009, 72, (03), 270-294 View citations (1)
6. Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture'
   Cambridge Journal of Economics, 2009, 33, (4), 563-580 View citations (219)
   See also Working Paper Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’, UMASS Amherst Economics Working Papers (2008) View citations (12) (2008)
7. Was IMF-Imposed Economic Regime Change in Korea Justified? The Political Economy of IMF Intervention
   Review of Radical Political Economics, 2009, 41, (2), 149-169 View citations (23)

2006

8. The Effects of Neoliberal “Reforms†on the Postcrisis Korean Economy
   Review of Radical Political Economics, 2006, 38, (3), 381-387 View citations (6)

2005

9. From East Asian “Miracle” to Neo-liberal “Mediocrity”: The Effects of Liberalization and Financial Opening on the Post-crisis Korean Economy
   Global Economic Review, 2005, 34, (4), 415-434 View citations (6)

2003

10. The Neoliberal Paradox: The Impact of Destructive Product Market Competition and Impatient Finance on Nonfinancial Corporations in the Neoliberal Era
    Review of Radical Political Economics, 2003, 35, (3), 271-279 View citations (49)
    See also Working Paper The Neoliberal Paradox: The Impact of Destructive Product Market Competition and Impatient Finance on Nonfinancial Corporations in the Neoliberal Era, Research Briefs (2005) View citations (35) (2005)

2002

11. A political-economic analysis of the failure of neo-liberal restructuring in post-crisis Korea
    Cambridge Journal of Economics, 2002, 26, (5), 667-678 View citations (11)
12. Is financial liberalization good for developing nations? The case of South Korea in the 1990s
    Review of Radical Political Economics, 2002, 34, (3), 327-334 View citations (10)
13. Why There Is Chronic Excess Capacity
    Challenge, 2002, 45, (6), 21-44 View citations (5)

2000

14. Structural Contradictions of the Global Neoliberal Regime
    Review of Radical Political Economics, 2000, 32, (3), 361-368 View citations (9)
    See also Working Paper Structural Contradictions of the Global Neoliberal Regime, Published Studies (2000) View citations (10) (2000)

1999

15. A Defense of Capital Controls in Light of the Asian Financial Crisis
    Journal of Economic Issues, 1999, 33, (2), 427-433 View citations (3)
16. Turbulence in the World Economy by Robert Brenner
    Challenge, 1999, 42, (3), 108-119
17. Was Keynes a Corporatist? Keynes’s Radical Views on Industrial Policy and Macro Policy in the 1920s
    Journal of Economic Issues, 1999, 33, (3), 555-577 View citations (5)

1996

18. Is New Keynesian Investment Theory Really “Keynesian”? Reflections on Fazzari and Variato
    Journal of Post Keynesian Economics, 1996, 18, (3), 333-357 View citations (6)

1993

19. Rethinking Marxian Investment Theory: Keynes-Minsky Instability, Competitive Regime Shifts and Coerced Investment
    Review of Radical Political Economics, 1993, 25, (1), 1-26 View citations (32)

1992

20. Neoclassical and Keynesian Approaches to the Theory of Investment
    Journal of Post Keynesian Economics, 1992, 14, (4), 483-496 View citations (22)

1990

21. Keynes on the Stages of Development of the Capitalist Economy: The Institutional Foundation of Keynes’s Methodology
    Journal of Economic Issues, 1990, 24, (3), 761-780 View citations (10)
22. Owner–Manager Conflict and Financial Theories of Investment Instability: A Critical Assessment of Keynes, Tobin, and Minsky
    Journal of Post Keynesian Economics, 1990, 12, (4), 519-542 View citations (67)

1985

23. The Bishops on the U.S. Economy
    Challenge, 1985, 28, (1), 36-41

1983

24. On Keynes and Capital Flight [Keynes's General Theory: A Different Perspective]
    Journal of Economic Literature, 1983, 21, (1), 59-65

1976

25. Specification Error in Macro-Econometric Models: The Influence of Policy Goals-Reply
    American Economic Review, 1976, 66, (4), 665-67
26. Stagnation, Instability and International Competition
    American Economic Review, 1976, 66, (2), 27-33 View citations (1)
27. Wages, Prices, and the Profit Squeeze
    Review of Radical Political Economics, 1976, 8, (2), 63-67 View citations (4)

1975

28. Class Conflict and Macro-Policy: The Political Business Cycle
    Review of Radical Political Economics, 1975, 7, (1), 1-19 View citations (54)
29. Macro-Policy Goals in the Postwar Period: Comment
    The Quarterly Journal of Economics, 1975, 89, (4), 673-676
30. The 1975 Report of the President's Council of Economic Advisors: A Radical Critique
    American Economic Review, 1975, 65, (5), 791-811

1973

31. Specification Error in Macro-Econometric Models: The Influence of Policy Goals
    American Economic Review, 1973, 63, (5), 1025-30 View citations (1)

1967

32. A Two-Stage Forecasting Model: Exponential Smoothing and Multiple Regression
    Management Science, 1967, 13, (8), B501-B507 View citations (20)

Books

2017

1. Capitalism, Macroeconomics and Reality
   Books, Edward Elgar Publishing View citations (1)

Chapters

2013

1. How big is too big? On the social efficiency of the financial sector in the United States
   Chapter 20 in Capitalism on Trial, 2013 View citations (7)