Senior Research Fellow and Professor Emeritus

James Crotty is Professor Emeritus of Economics at the University of Massachusetts Amherst. His research in theory and policy attempts to integrate the complementary analytical strengths of the Marxian and Keynesian traditions. He has written on a diverse set of topics including: economic methodology; the implication of radical or Keynesian uncertainty for macro and micro theory; comparative theories of financial markets and financial instability; the played by perverse incentives in financial firms in the creation of financial instability; the “financialization” of the non-financial firm; the causes and consequences of the ongoing global financial crisis; Marxian and Keynesian perspectives on investment theory; the structure and performance of the global neoliberal regime; theories of competition and their impact of theories of macro-dynamics; and the political economy of South Korea. His most recent book, Keynes Against Capitalism: His Economic Case for Liberal Socialism, examines the evolution of Keynes’s policy views in the interwar period and the relation of Keynes’s self-identified commitment to “liberal socialism” to his magnum opus The General Theory. He is also the author of Capitalism, Macroeconomics and Reality: Understanding Globalization, Financialization, Competition and Crisis, published by Edward Elgar Publishing.

His writings have appeared in such diverse journals as the American Economic Review, the Quarterly Journal of Economics, the Cambridge Journal of Economics, the Review of Radical Economics, Monthly Review, the Journal of Post Keynesian Economics, the Journal of Economic Issues, and in many edited collections.

James Crotty CV