Author Description

What is the relationship between saving behavior in capitalist economies and their macroeconomic performance? In posing this question, this volume address three more basic questions: What is the relationship between saving and investment? What is the role of financial structures in mediating this relationship? And what are the most appropriate ways of measuring saving, investment, and related concepts in the context of the substantive issues of concerns? The contributors draw substantially from heterodox traditions in economics, including post-Keynesianism, neo-Marxism, and structuralism, in pursuing these issues. As such, the contributions give unusual attention to how factors such as investment uncertainty, financial structure, income distribution, and the evolution of institutions affect growth, cyclical fluctuations, and in particular the role of saving in macroeconomic performance. At the same time, the essays are technically and empirically oriented, thus engaging more orthodox approaches to these themes on their own terms.