Contrasts are drawn between mainstream macroeconomics (with the ›New Consensus in Macroeconomics‹ taken as the current manifestation) and heterodox macroeconomics and their abilities to comprehend the fi nancial crises and world wide recession of 2007 – 09 for macroeconomic paradigms is discussed. Specifi cally, the contrasting ways in which the two schools of thought treat unemployment, human ...

The 2007 financial crisis has reignited the discussion on crises, their origin and possible remedies. At present the most influential thesis on the left sees the crisis as caused by underconsumption and recommends Keynesian policies as a solution. This paper argues that we should understand the crisis from the perspective of Karl Marx’s “law of the tendential fall in the average rate of profit”...

Another example of transformative philanthropy is related to India’s recovery from its economic crisis of 1991. Other countries had previously had similar crises and failed to implement good policies that would have allowed them to recover from their crises. By way of contrast, India implemented good policies and recovered in a short time frame. Most of the key actors who ensured that India imp...

This paper explores the role played by government guarantees to banks’ foreign creditors as a root cause of self-fulfilling twin banking-currency crises. We develop a general equilibrium model in which such guarantees lead to these types of crises. Absent government guarantees, such crises are not possible. The model has three key properties. First, in the presence of government guarantees bank...

We study the effect of crises on health by focusing on the height of adult women exposed to the 1994 genocide in Rwanda when they were children or adolescents. Using several large household surveys, we find that the adult height of girls exposed to the genocide is much lower than older cohorts and those from neighboring countries. Furthermore, we find a large negative effect on height even for ...

AIM To evaluate patients' and families' satisfaction from services provided in community care and to analyse the correlation between patients' psychopathology, quality of life and satisfaction. METHOD The study is anonymous. In 2008, nienety-seven patients from five community care settings in Warsaw filled in Frankfurt Scale short version, Quality of Life Scale QS and Verona Scale version for...

We show that the residuals of the trend relationship among asset wealth and human wealth predict housing returns. Using data for a set of industrialized countries, we assess the predictive ability of the wealth-to-income ratio for housing returns. In particular: (i) when housing asset are complements of financial assets, investors demand a higher housing risk premium if they are hit by a shock ...

Background. In England, people with a serious mental illness are offered a standardized care plan under the Care Programme Approach (CPA). A crisis plan is a mandatory part of this standard; however, the quality and in particular the level of individualisation of these crisis plans are unknown. In this context, the aim of this study was to assess the quality of crisis planning and the impact of...