James Crotty
Encyclopedia
James Crotty is a Post-Keynesian
macroeconomist
whose research in theory and policy attempts to integrate the complementary analytical strengths of the Marxian and Keynesian
traditions. He has made contributions to the social structure of accumulation (SSA) theory; the implications of radical uncertainty for macro theory and theories of financial markets.
His heterodox analysis of and approach to current economic issues at the global and U.S. scale have provided a dissent voice in a world heavily dominated by neo-classical
and neo-liberal
economics. His writings have appeared in social science journals such as Monthly Review
, the American Economic Review
, the Review of Radical Political Economy, the Cambridge Journal of Economics
, the Quarterly Journal of Economics
, the Journal of Economic Literature
, the Journal of Post Keynesian Economics, the Journal of Economic Issues
, and in many edited collections.
James Crotty received his Ph.D. from Carnegie Mellon University
in 1973, and after teaching at the University at Buffalo, The State University of New York
for a while joined the Economics Department of the University of Massachusetts Amherst
, Amherst
. Recently, Crotty has focused on the political economy of Korea
and continues his research on the structure and performance of the global neoliberal economy, the impact of neoliberal globalization on developed and developing economies.
He now teaches at UMass Amherst.
Post-Keynesian economics
Post Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, although its subsequent development was influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor and Paul Davidson...
macroeconomist
Macroeconomics
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. This includes a national, regional, or global economy...
whose research in theory and policy attempts to integrate the complementary analytical strengths of the Marxian and Keynesian
Keynesian economics
Keynesian economics is a school of macroeconomic thought based on the ideas of 20th-century English economist John Maynard Keynes.Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and, therefore, advocates active policy responses by the...
traditions. He has made contributions to the social structure of accumulation (SSA) theory; the implications of radical uncertainty for macro theory and theories of financial markets.
His heterodox analysis of and approach to current economic issues at the global and U.S. scale have provided a dissent voice in a world heavily dominated by neo-classical
Neoclassical economics
Neoclassical economics is a term variously used for approaches to economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, often mediated through a hypothesized maximization of utility by income-constrained individuals and of profits...
and neo-liberal
Neoliberalism
Neoliberalism is a market-driven approach to economic and social policy based on neoclassical theories of economics that emphasizes the efficiency of private enterprise, liberalized trade and relatively open markets, and therefore seeks to maximize the role of the private sector in determining the...
economics. His writings have appeared in social science journals such as Monthly Review
Monthly Review
Monthly Review is an independent Marxist journal published 11 times per year in New York City.-History:The publication was founded by Harvard University economics instructor Paul Sweezy, who became the first editor...
, the American Economic Review
American Economic Review
The American Economic Review is a peer-reviewed academic journal of economics publishing seven issues annually by the American Economic Association. First published in 1911, it is considered one of the most prestigious journals in the field. The current editor-in-chief is Penny Goldberg . The...
, the Review of Radical Political Economy, the Cambridge Journal of Economics
Cambridge Journal of Economics
The Cambridge Journal of Economics is a peer-reviewed academic journal of economics....
, the Quarterly Journal of Economics
Quarterly Journal of Economics
The Quarterly Journal of Economics, or QJE, is a peer-reviewed academic journal published by the Oxford University Press and edited at Harvard University's Department of Economics. Its current editors are Robert J. Barro, Elhanan Helpman and Lawrence F. Katz...
, the Journal of Economic Literature
Journal of Economic Literature
The Journal of Economic Literature is a peer-reviewed academic journal on economy published by the American Economic Association. It was established in 1963 as the Journal of Economic Abstracts. As a review journal, it mainly features essays and reviews of recent economic theories...
, the Journal of Post Keynesian Economics, the Journal of Economic Issues
Journal of Economic Issues
The Journal of Economic Issues is an academic journal of economics. The current editor-in-chief is Richard V. Adkisson .It is the published by M. E. Sharpe on behalf of the Association for Evolutionary Economics....
, and in many edited collections.
James Crotty received his Ph.D. from Carnegie Mellon University
Carnegie Mellon University
Carnegie Mellon University is a private research university in Pittsburgh, Pennsylvania, United States....
in 1973, and after teaching at the University at Buffalo, The State University of New York
University at Buffalo, The State University of New York
University at Buffalo, The State University of New York, also commonly known as the University at Buffalo or UB, is a public research university and a "University Center" in the State University of New York system. The university was founded by Millard Fillmore in 1846. UB has multiple campuses...
for a while joined the Economics Department of the University of Massachusetts Amherst
University of Massachusetts Amherst
The University of Massachusetts Amherst is a public research and land-grant university in Amherst, Massachusetts, United States and the flagship of the University of Massachusetts system...
, Amherst
Amherst, Massachusetts
Amherst is a town in Hampshire County, Massachusetts, United States in the Connecticut River valley. As of the 2010 census, the population was 37,819, making it the largest community in Hampshire County . The town is home to Amherst College, Hampshire College, and the University of Massachusetts...
. Recently, Crotty has focused on the political economy of Korea
Korea
Korea ) is an East Asian geographic region that is currently divided into two separate sovereign states — North Korea and South Korea. Located on the Korean Peninsula, Korea is bordered by the People's Republic of China to the northwest, Russia to the northeast, and is separated from Japan to the...
and continues his research on the structure and performance of the global neoliberal economy, the impact of neoliberal globalization on developed and developing economies.
He now teaches at UMass Amherst.
2005
- Was Korea's Economy Structurally Dysfunctional in the mid-1990s?: A Critique of the IMF's Justification for Regime Change in Korea (with Kang-Kook Lee)
- From East Asian "Miracle" to Neoliberal "Mediocrity": The Effects of Liberalization and Financial Opening on the Post-Crisis Korean Economy (with Kang-Kook Lee)
2004
2002
- The Effects of Increased Product Market Competition and Changes in Financial Markets on the Performance of Nonfinancial Corporations in the Neoliberal Era
- Why Do Global Markets Suffer From Chronic Excess Capacity?: Insights From Keynes, Schumpeter and Marx
- A Political-Economic Analysis of the Failure of Neoliberal Restructuring in Post-Crisis Korea (with Kang-Kook Lee)
2001
- Korea's Neoliberal Restructuring: Miracle or Disaster? (with Kang-Kook Lee)
- Economic Performance in Post-Crisis Korea: A Critical Perspective on Neoliberal Restructuring (with Kang-Kook Lee)
- Structural Contradictions of Current Capitalism: A Keynes-Marx-Schumpeter Analysis
2000
- Structural Contradictions of the Global Neoliberal Regime
- The Case for Capital Controls
- Trading State-Led Prosperity for Market-Led Stagnation: From the Golden Age to Global Neoliberalism