Teoría de los precios. Avances en el debate contemporáneo

El propósito de este libro es mostrar a los estudiantes de economía un hecho fundamental: la teoría de los precios, hoy en día es un campo en debate sujeto a severos cuestionamientos desde cualquer punto de vista, Más aún, plantea la urgencia de incorporar este debate como una manera de entender los alcances y limitaciones que actualmente se ecuentran en cualquiera de los enfoques teóricos existentes, particularmente en aquél que aparece como dominante. El texto es una invitación a la búsqueda en un campo que, si bien no es tan notorio como otros en la economía política, resulta esencial en la formación de economistas con un sentido crítico y realista del "estado del arte" en su disciplina

Racial Exclusion and the Political Economy of the Subprime Crisis

Abstract Th is paper develops a political economic explanation of the 2007-9 US subprime crisis which focuses on one of its central causes: the transformation of racial exclusion in US mortgagemarkets. Until the early 1990s, racial minorities were systematically excluded from mortgagefi nance due to bank-redlining and discrimination. But, then, racial exclusion in credit-markets was transformed: racial minorities were increasingly given access to housing-credit under terms far more adverse than were off ered to non-minority borrowers. Th is paper shows that the emergence of the subprime loan is linked, in turn, to the strategic transformation of banking in the 1980s, and to the unique global circumstances of the US macro-economy. Th us, subprime lending emerged from a combination of the long US history of racial exclusion in credit-markets, the crisis of US banking, and the position of the US within the global economy. From the viewpoint of the capitalist accumulation-process, these loans increased the depth of the fi nancial expropriation of the working class by fi nancial capital. Th e crisis in subprime lending then emerged when subprime loans with exploitative terms became more widespread and were made increasingly on an under-collateralised basis -that is, when housing-loans became not just extortionary but speculative

Modelos de desarrollo heterodoxo y ortodoxos

THE PAPER DISCUSSES THE LITERATURE THAT SERVED THE PURPOSE OF ESTABLISHING THE CURRENT APPROACH TO DEVELOPMENT ISSUES AND POLICY. THE HEGEMONIC ROLE OF THAT LITERATURE IS ESSENTIAL TO UNDERSTAND THE POLICY APPROACH THAT PREVAILS IN MEXICO. IT ALSO DISCUSSES THE EVIDENT LIMITS OF THAT APPROACH TO POLICY, AS IT IS EVIDENCED BY THE ACTUAL IMPACT ON THE CURRENT SITUATION IN THIS COUNTRY. STAGNATION AND SOCIAL CRISIS CAN NOT BE IGNORED IN THE CURRENT DEBATE. THE PAPER ALSO DISCUSSES AN AGENDA FOR THE ANALYSIS OF THE NOW CRITICAL ISSUES FOR DEVELOPMENT POLICY IN MEXICO

Características estructurales de la crisis actual.Definiendo una nueva agenda para el cambio estructural

El trabajo adelanta una discusión sobre el carácter estructural de la crisis actual, enfatizando la forma en que la economía mexicana se articuló con la de los Estados Unidos de Norteamérica. Esta relación se funda en un fuerte amarre productivo-comercial, pero también en todo el encuadre de política macroeconómica, es decir, fiscal y monetaria. La crisis, entonces, pone en evidencia la debilidad del modelo de base además de las características propias del impacto global. El artículo explora algunos aspectos relevantes a las políticas de cambio estructural que ahora debieran ser consideradas, en oposición a la visión corriente de dichas políticas

Modelos de desarrollo heterodoxo y ortodoxos

THE PAPER DISCUSSES THE LITERATURE THAT SERVED THE PURPOSE OF ESTABLISHING THE CURRENT APPROACH TO DEVELOPMENT ISSUES AND POLICY. THE HEGEMONIC ROLE OF THAT LITERATURE IS ESSENTIAL TO UNDERSTAND THE POLICY APPROACH THAT PREVAILS IN MEXICO. IT ALSO DISCUSSES THE EVIDENT LIMITS OF THAT APPROACH TO POLICY, AS IT IS EVIDENCED BY THE ACTUAL IMPACT ON THE CURRENT SITUATION IN THIS COUNTRY. STAGNATION AND SOCIAL CRISIS CAN NOT BE IGNORED IN THE CURRENT DEBATE. THE PAPER ALSO DISCUSSES AN AGENDA FOR THE ANALYSIS OF THE NOW CRITICAL ISSUES FOR DEVELOPMENT POLICY IN MEXICO

Pricing in a small open monetary economy: a Post Keynesian model

Pricing is conceived within the framework of a monetary economy with fully endogenous money. Agents react to the basic tools of monetary policy, the rate of interest, and the rate of exchange, forming prices and quantities. But the maximization of the profit rate leads to a bifurcated price behavior, which, as it is shown, can be neither neutral nor stable. The implications for monetary policy highlight that the conditions for macroeconomic stability cannot be reduced to zero inflation nor a nil public deficit. Furthermore, such policies may turn contradictory if they do not consider the non-neutrality of monetary policy.open monetary economy, pricing,