sanity, humanity and science real-world economics review Formerly the post-autistic economics review ISSN 1755-9472

Levy Institute scholars and conference participants. The purpose of the series is to disseminate ideas to and elicit comments from academics and professionals. The Levy Economics Institute of Bard College, founded in 1986, is a nonprofit, nonpartisan, independently funded research organization devoted to public service. Through scholarship and economic research it generates viable, effective public policy responses to important economic problems that profoundly affect the quality of life in the United States and abroad.

University of Massachusetts, Amherst (U.S.), respectively. They would like to express appreciation to the members of those institutions as well as to Peter Kriesler and Jerry Epstein, respectively, for providing a stimulating and pleasant working environment. The usual disclaimer applies. The Levy Economics Institute Working Paper Collection presents research in progress by Levy Institute scholars and conference participants. The purpose of the series is to disseminate ideas to and elicit comments from academics and professionals. The Levy Economics Institute of Bard College, founded in 1986, is a nonprofit, nonpartisan, independently funded research organization devoted to public service. Through scholarship and economic research it generates viable, effective public policy responses to important economic problems that profoundly affect the quality of life in

I wish to take this opportunity to express my sincere gratitude to those who have provided their time, advice, and encouragement throughout the honours program. To my supervisor, Associate Professor Steve Keen, for developing a greater appreciation into the monetary and financial system. To my co-supervisor, Mr Neil Hart, for his intelligence, debate and time provided throughout the years. I would also like to thank the School of Economics and Finance for its assistance with resources and facilities. To the