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Featured Articles
The Systemic Crisis of the Euro – True causes and effective therapies
Heiner Flassbeck and Costas Lapavitsas

The authors investigate the origin of the EMU to identify its constructional defects in order to explain why it is failing to resolve the European crisis effectively.

Fragile Foundations: Foreign capital and growth after liberalisation
C.P. Chandrasekhar
The shift from debt-financed public expenditure to debt-financed private expenditure-led growth in India has resulted in increased dependence on foreign capital and vulnerability.
   
Capital Account Regulations and the Trading System: A compatibility review
Edited by: Kevin P. Gallagher

The report validates the concerns that many nations may not have adequate flexibility to regulate capital flows because of the trade and investment treaties they are party to.

The Business of News in the Age of the Internet
C.P. Chandrasekhar
In the context of the digital revolution, the author discusses some possible implications of the impact of the internet on the print business and the directions they point to.
   
China 2012
Samir Amin

Arguing that China has chosen an original path, the author analyses the nature of this path at each of the stages of its development from 1950 to today–2012.

Failed and Asymmetrical Integration: Eastern Europe and the non-financial origins of the European crisis
Erik S. Reinert & Rainer Kattel
The crisis in East Europe is due to the asymmetric integration of these countries into the European Union, which led to structural weaknesses.
   
The Baltic Republics and the Crisis of 2008–2011
Rainer Kattel and Ringa Raudla

Analysing the Baltic republics' response to the crisis of 2008–2011, the essay shows that the Baltic 'model' of crisis resolution cannot be replicated anywhere else in Europe.

The Age of Austerity: A review of public expenditures and adjustment measures in 181 countries
Isabel Ortiz and Matthew Cummins
Contrary to public perception, austerity measures are not limited to Europe; in fact, it is in the developing world that many adjustment measures feature most prominently.
   
The Endless Eurozone Crisis, Where Do We Stand? A Classical-Kaleckian Overview
Sergio Cesaratto

This paper reviews the main causes of the Euro Zone financial crisis and argues that the prevailing crisis resolution philosophy resembles the original deflationary Euro-bias.

Evolution of Commerce and Risk Management in Commodities since 2000 B.C.: Snapshots
Andrew Cornford
This paper traces the historical development of commerce in primary commodities, focusing on derivatives contracts and the legal framework for derivative transactions.
   
The Political Economy of the Syrian Crisis
Ali Kadri

This essay investigates the subject of history or the social class that has precipitated the social disaster in Syria.

Asian Initiatives at Monetary and Financial Integration: A critical review
Lim, Mah-Hui (Michael) and Joseph Lim
The paper takes a critical look at the Asian initiatives at monetary and financial integration and points to some issues in the way forward.
   
Inequality and the Universalistic Principle in the Post-2015 Development Agenda
Andrew M. Fischer

The current initiatives to address inequality are fraught with the risks of de-politicisation of policy debates and an obsessive focus on inequality indicators.

Insolvency Protection and Fairness for Greece: Implementing the Raffer Proposal
Kunibert Raffer
The financial crisis in Greece and the 'austerity measures' being imposed on the country has lead to disastrous results for the economy. Contrary to mainstream prescriptions that seek to bailout big financial institutions at the expense of the real economy, an alternative proposal that was originally proposed by the author has gained much credence. The ''Raffer Proposal'' (also known as the Fair Transparent Arbitration Procedure (FTAP)) has been endorsed and propagated by many noteworthy economists, NGOs, and the Jubilee Movement. This article espouses the basic tenets of the Proposal and explains how it can help resolve the Greek crisis.
   
Catching Up and Knowledge Governance
Rainer Kattel

The author provides a theoretical framework that makes it possible to create a taxonomy of knowledge governance regimes and elucidate what is needed for catching-up strategies.

Neo-liberal Small States and Economic Crisis: Lessons for democratic corporatism
Baldur Thorhallsson and Rainer Kattel
This paper argues that the 2008 economic crisis was particularly deep in Estonia and Iceland because non-corporatist neo-liberal political features were essential endogenous factors deepening it. A lack of corporatist features also formed the basis for responses to the crisis and the political aftermath in both cases. Furthermore, the paper argues that adding new institutionalist aspects to the corporatist model helps deepen our understanding of political dynamics in societies that lack clear-cut corporatist features.
   
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Economics Associates 2013
 

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