Contact Info

University of
Massachusetts Amherst
Economics Department
Thompson Hall
Amherst, MA 01003

James Crotty

Professor Emeritus of Economics, University of Massachusetts

Professor Crotty is a macro economist with broad interests whose research in theory and policy attempts to integrate the complementary analytical strengths of the Marxian and Keynesian traditions. 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, and the Journal of Economic Issues, and in many edited collections.

His research interests include: economic methodology; the implications of radical uncertainty for macro theory and policy; theories of financial markets and their implications for understanding financial booms and crises; Marxian and Keynesian perspectives on investment theory; the structure and performance of the global neoliberal economy; theories of competition and their impact on theories of macro dynamics; the financialization of the nonfinancial firm; and the political economy of South Korea.

Issues: Anti-Trust Regulations, Austerity, Bank Bail Out, Bank Bonuses, Banking and Finance, Capitalism, Developing Economies, Economic Forecasting, Economic Theory, Economy and Gender, Economy and Race, Fannie/Freddie, Financial Markets, Globalization, Housing Market Collapse, International Competition, Keynes v. Friedman, Ratings Agencies, Securitization, Service Economy, Too Big To Fail, Trade

Experience:

• Professor, University of Mass., June 1, 1984-May 2007
• Associate Professor, University of Mass., June 1, 1977 -May 31, 1984
• Department Chair, June 1, 1981-May 31, 1984
• Assistant Professor, University of Mass., June 1, 1974-May 31, 1977
• Assistant Professor, Bucknell University, June 1, 1972-May 31, 1974
• Assistant Professor, State University of New York at Buffalo, June 1, 1966-May 31, 1972
• Economist and Operations Research Analyst, Mellon National Bank and Trust Company, Feb. 1, 1963-May 31, 1966

Education:

Ph.D., Economics, Carnegie Mellon University, 1973
M.S., Economics, Carnegie Mellon University, 1963
B.S., Fordham University, 1961

Books:

The Bonus-Driven “Rainmaker” Financial Firm: How These Firms Enrich Top Employees, Destroy Shareholder Value and Create Systemic Financial Instability. Economics Department Working Paper Series (2009), University of Massachusetts Amherst.James Crotty(with Gerald Epstein)

Proposals for Effectively Regulating the U.S. Financial System to Avoid Yet Another Meltdown. Economics Department Working Paper Series (2008), University of Massachusetts Amherst

Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’, Economics Department Working Paper Series (2008), University of Massachusetts Amherst

If Financial Market Competition is so Intense, Why are Financial Firm Profits so High? Reflections on the Current ‘Golden Age’ of Finance, PERI Working Papers (2007)

Additional Issues: Macro-Economic Theory and Policy; Marxian Theory; Keynes’s Theory and Post-Keynesian Theory; Investment Theory; Economic Methodology ; The Global Economy ; Financial Markets, Financialization and Financial Crises ; Political Economy of South Korea.