Introduction

The financial crash of 2007–2008 and the subsequent global economic crisis have raised questions about the viability of capitalism and the desirability of alternative economic systems. In this context, Keynesian and Marxist ideas have become more popular. These two approaches, along with other heterodox approaches – cultural political economy, Schumpeterian and evolutionary approaches, for example – share a common basis and similar perspective on economic issues, that is, the need for institutional analysis and for providing better institutions and governance in the post-crisis era, with the aim of promoting economic development.