Review of Political Economy

1997 - 2026

Current editor(s): Sylvio Kappes, Maria Cristina Barbieri Goes and Louis-Philippe Rochon

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Volume 38, issue S1, 2026

The deindustrialization of the Brazilian economy: new evidences and the role of 1990s productive restructuring in this process pp. 1-29

Lucas Almeida and Paulo Balanco

Price and Wage Inflation in Brazil: An Empirical Analysis from 1999 to 2022 pp. 30-55

Michelle Malher, Júlia Braga and Luiz Fernando de Paula

Why are the Repurchase Agreement Operations So Substantial in Brazil? pp. 56-71

Fabio Terra and Cleomar Gomes Da Silva

Wages, Demand and Labour Productivity in the Brazilian Economy Between 2004 and 2013 pp. 72-94

João Paulo Farias Fenelon, Carolina Troncoso Baltar and Rosângela Ballini

Historically Established, but Institutionally Secured? Analyzing the Status of Heterodox Economics in Brazil pp. 95-120

Theodoro Sposito and Felipe Almeida

What is Financialisation? Examining the Role of Economic Methodology as Source of Theoretical and Policy Divergences pp. 121-149

Daniel Feliciano Cruz, Jesus Ferreiro and Carlos J. Rodriguez-Fuentes

Rentiers, Strategic Public Goods, and Financialization: A Center-Periphery Neo-Kaleckian Model pp. 150-179

Gabriel Porcile and Gilberto Tadeu Lima

Financialization of Land in Peripheral Countries: Disciplining Agrarian Structures and Perpetuating Macroeconomic Vulnerabilities pp. 180-207

Carlos Alberto Suescún Barón, Camilo Guevara and Diego Guevara

Corporate Financialization: A Conceptual Clarification and Critical Review of the Literature pp. 208-233

Joel Rabinovich and Niall Reddy

The ECB’s Monetary Policy Review: A Post-Keynesian Twist? pp. 234-253

Carlo Klein

Central Bank Operations Under Foreign Exchange Accumulation: The Case of the Macedonian Central Bank (2005–2022) pp. 254-280

Simona Bozhinovska

How to Make Central Banks’ Structural Power ‘Great Again’ pp. 281-307

Sophie Harnay, Laurence Scialom and Guillaume Vallet

Making the Ethiopian Banking System Ready for Green Growth and Development pp. 308-329

Basil Oberholzer and Dawit Ayele Haylemariam

Potential Output and Cyclically Adjusted Balance: An Application of the Updated Okun Method to Spain (1987–2022) pp. 330-350

Luis Cardenas, Paloma Villanueva and Juan Rafael Ruiz

Profit Share, Technical Change, and Capital Accumulation in Mexico pp. 351-374

Carlos A. Ibarra

In Memory of Bernard Schmitt: A Survey of his Quantum Monetary Approach to Macroeconomics pp. 375-398

Xavier Bradley, Andrea Carrera, Alvaro Cencini, Claude Gnos and Sergio Rossi

The Dutch Disease of the Euro Area Peripheral Member States pp. 399-435

João Alcobia and Ricardo Cabral

Some Reflections on the Teaching of International Monetary Economics pp. 436-462

Luca Fantacci, Lucio Gobbi and Stefano Lucarelli

Sectoral and National Profit Rate in the European Union: Is There a Tendency Towards Convergence? pp. 463-486

Giannis Vrettos and Theofanis Papageorgiou

Review of Busting the Bankers’ Club pp. 487-489

Armando Álvarez

Money and Capital: A Critique of Monetary Thought, The Dollar and Post-Capitalism (Routledge Frontiers of Political Economy) pp. 490-495

Robert Guttmann

Review of Remaking Money for a Sustainable Future. Money Commons pp. 496-497

Cristina Toti

After the Accord: A History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979 pp. 498-500

Rudy Bouguelli

Capitalism’s Double-Edged Sword: A Review of Two Recent Books About Central Banks pp. 501-507

Daniyal Khan

Financial Macroeconomics pp. 508-510

Carlo D’Ippoliti

Volume 38, issue 3, 2026

65 Years After Production of Commodities by Means of Commodities: New Directions in the Sraffian Approach pp. 715-716

Santiago J. Gahn and Sylvio Kappes

Demand-led Growth, Exogenous Distribution and Structural Heterogeneity: Revisiting Alfredo Monza's Contribution to a Classical-Keynesian-Structuralist Approach pp. 717-741

Ramiro E. Álvarez, Alejandro Fiorito and Guido Ianni

Piero Sraffa’s Internment on the Isle of Man in 1940 as a British ‘Enemy Alien’ pp. 742-772

Scott Carter and Andres Lazzarini

Reappraising Pasinetti: Proportions, Prices and Economic Planning pp. 773-788

Giacomo Cucignatto, Facund Fora Alcalde, Nadia Garbellini and Gianmarco Oro

Form, Core, and Capitalist Dynamics. Challenging the Marginalist Paradigm with Marx, Sraffa, and Keynes pp. 789-818

Kristofer Pitz and Luigi Salvati

Oikos and Surplus: The Search for an Anthropological Economics pp. 819-839

Isaac Stanley

Sraffa Goes to Space: Spatial Elements of Political Economy pp. 840-861

Gabriel Zaffari and Giacomo Sbrenna

What Have We Learned from Summers and Piketty Ten Years On? pp. 862-867

Stefano Di Bucchianico, Nadia Garbellini and Gabriel Brondino

Stagnation and the Natural Rate of Interest: Tracing the Roots of Lawrence Summers’s Theory of Secular Stagnation pp. 868-886

Roger E. Backhouse and Mauro Boianovsky

How Inequality Increases Through Financialization pp. 887-903

Amit Bhaduri and Gianmarco Oro

Wealth Distribution With and Without Real Estate Assets and Mortgage Debt in ten European Countries — A Post-Kaleckian Approach pp. 904-926

Eckhard Hein, Moritz Marpe and Karolina Schütt

A Tale of Two Rates: Return on Capital, Economic Growth, and Wealth Concentration in the Long Run pp. 927-960

Edison Jakurti

Secular Stagnation After Piketty and Keynes pp. 961-979

Steven Pressman

Compositional Inequality: Measurement, Stylized Facts, and Theoretical Aspects pp. 980-1011

Marco Ranaldi

Labor Market Institutions, Endogenous Technical Change and Inequality: Demand-Side Secular Stagnation pp. 1012-1030

Daniele Tavani and Luca Zamparelli

Determining the Normal Degree of Capacity Utilisation: Insights from the History of Economic Thought pp. 1031-1056

Attilio Trezzini and Daria Pignalosa

The Supermultiplier Model and the Role of Autonomous Demand: An Empirical Test for European Countries pp. 1057-1083

Maria Cristina Barbieri Góes, Ettore Gallo and Vinicius Diniz Moraes

Invisible and Visible Hands. What Kind of Economist is Adam Smith, and Why is He Still Relevant? pp. 1084-1108

Rod O’Donnell

On Adam Smith’s Invisible Hand: A Reply to Professor O’Donnell pp. 1109-1114

Stefano Fiori

Metaphors: What are they, and What is their Appropriate Domain of Application? pp. 1115-1129

Rod O’Donnell

Maximizing Profits Versus Maximizing Revenue: A Note on Adam Smith’s Invisible Hand pp. 1130-1137

Tony Aspromourgos

Neo-Marxism and Post-Keynesian Economics: From Kalecki to Sraffa and Joan Robinson pp. 1138-1140

Muh Ridwan B, Indria Sari Purwaningrum, Muhammad Naufal Hamdani Nurmitananda and Reski Utama

Declining profitability and the evolution of the US economy: a classical perspective pp. 1141-1145

Nikolaos Chatzarakis

Volume 38, issue 2, 2026

Introduction to the Symposium in Honour of Luigi Pasinetti pp. 381-385

Nadia Garbellini

Capital Accumulation and Related Problems: Luigi Pasinetti between Cambridge and Harvard pp. 386-402

Gabriel Brondino, Nadia Garbellini and Ariel L. Wirkierman

Pasinetti’s Structural Dynamics and Institutional Analysis: The End of the Golden Age and the Rise of Neoliberalism pp. 403-420

Davide Gualerzi

Luigi Pasinetti's Discussions on Technical Progress and International Economic Relations: A View from Development Economics pp. 421-437

Florencia Sember

Luigi Pasinetti’s Peculiar Keynesianism: Notes on Some Methodological Issues Beneath It pp. 438-451

Andrea Salanti

Professor Pasinetti and the Sraffa Papers pp. 452-466

Andres Lazzarini and Scott Carter

Between Sraffa and Marx: Pasinetti and the New Interpretation of the Labour Theory of Value pp. 467-485

Gianmarco Oro and Stefano Perri

Structural Change, Innovation and Gender Gaps pp. 486-508

Maria Savona and Giovanna Vertova

Introduction to the Symposium on the 21st STOREP Conference: ‘Why Inequalities Grow: Value and Distribution in the History of Economic Thought’ pp. 509-515

Angela Ambrosino, Enrico Bellino, Gabriel Brondino and Luca Fantacci

Market Economies and Authoritarian Rule. Capitalism, Socialism and Democracy in the Twenty-first Century pp. 516-538

Bruna Ingrao

Monetary Theory of Production: Revolutionary or Not Microfounded? pp. 539-568

Felipe Sousa

Economics: Pluralism in Times of Fragmentation, and the Chances of Polycentrism pp. 569-588

Mario Cedrini, Valentina Erasmo, Angela Ambrosino and John Davis

Consumption Emulation and Demand Regimes: An Inclusive Modeling Approach pp. 589-612

Jan Schulz and Daniel M. Mayerhoffer

Beyond Full Employment: Keynes and Kalecki on our Economic Future pp. 613-629

David A. Spencer

Fast and Curious: ‘The Swiss Development Puzzle’. The Institutional Roots of the Success of Industrialization pp. 630-656

Léo Charles and Guillaume Vallet

Macroeconomic Aspects of Unemployment Benefits: Evaluating the Danish Policy pp. 657-678

Simon Thomsen, Hamid Raza and Mikael Byrialsen

The Political Economy of Exchange Rates and Export-Led Industrialization in South Korea pp. 679-702

Tanadej Pete Vechsuruck

Central Banking, Monetary Policy and the Environment pp. 703-710

Wallace Pereira and Douglas Alencar

Ecological Imperialism, Development, and the Capitalist World-System: Cases from Africa and Asia pp. 710-713

Franklin Obeng-Odoom

Volume 38, issue 1, 2026

A Lost Joan Robinson Paper pp. 1-26

Louis-Philippe Rochon and Joan Robinson

Introduction to the Symposium in Honour of Geoff Harcourt pp. 27-29

Amitava Dutt and Claudio Sardoni

Geoff Harcourt and the Central Role of Values in Economics pp. 30-44

Sheila Dow

Post-Keynesian Economics: Theory and Ethics pp. 45-66

Amitava Krishna Dutt

Interpreting Joan Robinson Following in Geoff Harcourt’s Footsteps pp. 67-80

Maria Cristina Marcuzzo

Keynesian Equilibria as Centers of Gravitation? pp. 81-96

Claudio Sardoni

Bread and Steel: Harcourt on the Economic Surplus, Employment and Distribution in Two-Sector Economies pp. 97-117

Mauro Boianovsky

Revisiting ‘Pricing and the Investment Decision’ pp. 118-134

Harry Bloch and Peter Kriesler

Reflections on Aspects of Macroeconomic Policies in the Spirit of Geoff Harcourt pp. 135-149

Philip Arestis and Malcolm Sawyer

The Ethics and Politics of Care: Reshaping Economic Thinking and Practice pp. 150-166

Wendy Harcourt

Ricardo was Right: Unless One Can Enforce ‘Productive’ Behaviour from Rentiers, Sustainable Growth is not an Option — While Emerging Asia Succeeded, the West and Latin America Failed, Caught in Their ‘Neo-Liberal Trap’. A Tribute to Geoff Harcourt pp. 167-208

José Gabriel Palma

An Analysis of the Patterns of Economic Growth in the US pp. 209-244

Maria Cristina Barbieri Góes

Public Investment as a Source of Capacity-Creating Autonomous Demand: Implications for Growth and Stability pp. 245-259

Ettore Gallo

Aggregate Demand and Demand Leakages in a Post-Keynesian Investment Function: A Dynamic Panel Data Analysis for Developed and Developing Countries pp. 260-285

Tiago Couto Porto

Deficit Aversion as a Path to Higher Debt: Sovereign Debt Dynamics in a Stock-Flow Consistent Model with Public Capital pp. 286-316

Ekaterina Jürgens

A Short Period Sraffa-Keynes Model for the Evaluation of Monetary Policy pp. 317-346

Peter Docherty

An Integration of Sraffa's Price Equations inside Marx's Capitalist Monetary Circulation pp. 347-369

Stefano Perri and Gianmarco Oro

Monetary Policy Challenges in Latin America pp. 370-377

João Marcos Hausmann Tavares

Max Weber and the Path from Political Economy to Economic Sociology pp. 377-379

Wedi Mustamulari, Itang Navira Hatuwe and Reski Utama