Introduction

The papers in this volume were presented and discussed at the inaugural conference on ‘Profits and Instability’ of The Jerome Levy Economics Institute of Bard College on 16–18 March 1989. The purpose of the conference was to discuss recent research findings on various aspects of profits, deficits and instability, and the connection of these findings among the three issues themselves and their relevance to economic policy as well. Concerns and worries about the future that focus on the question of whether America is number one situate the problems of profitability, increasing debt and economic stability at centre stage.