Capitalism: An Unsustainable Future?

Malcolm Sawyer is Emeritus Professor of Economics, University of Leeds, UK and Retired Managing Editor of International Review of Applied Economics. He is author of 12 books, co-editor of over 30 books and over 250 academic journal articles and book chapters. Jonathan Michie is Professor of Innovation and Knowledge Exchange at the University of Oxford, UK where he is also President of Kellogg College. He is Managing Editor of International Review of Applied Economics, and Chair of the Universities Association for Lifelong Learning.

Introduction: The Future of Capitalism 1. Financialisation, industrial strategy and the challenges of climate change and environmental degradation 2. UK and other advanced economies productivity and income inequality 3. Financial oversight, the third flawed pillar of the European Union: the missing piece in the Arestis-Sawyer critique of EMU macropolicy design 4. The industrial policy requirements for a global climate stabilization project 5. Challenges to neo- liberalism in the United States 6. The U.S.– China trade imbalance and the theory of free trade: debunking the currency manipulation argument 7. Global value chains – a ladder for development? 8. The impact of capital flow reversal shocks in South Africa: a stock- and- flow- consistent analysis 9. Do public banks reduce monetary policy power? Evidence from Brazil based on state dependent local projections (2000– 2018) 10. Some new insights on financialization and income inequality: evidence for the US economy, 1947– 2013 11. Determinants of social outreach of microfinance institutions 12. Rethinking growth and inequality in the US: what is the role of measurement of GDP? 13. Sovereign currency and long- term interest rates 14. Government expenditure and economic growth: a post- Keynesian analysis 15. Interpreting the world, in various ways – and changing it