The consequences of the global economic crisis which started in the United States in 2007-08 are still being felt in most of the advanced economies, and the mainstream tools of recovery are not having the required results. It seems that many of the after-effects of the crisis, including the instability of the financial markets, increasing public debts and limited economic growth, require new solutions from both economic policy and theory. Lower aggregate demand during the crisis increased the pressure on firms to be more competitive and at the same time, the crisis in the banking system...

In the years following the financial crash, two issues have become central to the debate in economics: inequality and the uneven nature of (sustainable) development. People want to know why inequality has been increasing so much in the last three decades, why most advanced economies are stagnating or are experiencing moderate economic growth, and why, even where economic growth is occurring, the quality of that growth is questioned. And in advanced economies in particular, the most pressing items on the policy agenda of governments and international organizations are economic development,...