His teaching and research have been in the areas of macroeconomics, monetary economics, and history of economic thought. His research has been highly influenced by the ideas of Michał Kalecki, an economist who independently developed ideas similar to those of Keynes in the 1930s, and it focuses on the importance of Kalecki’s “principle of increasing risk,” the notion that it is the amount of own or equity capital that fundamentally limits the investment spending and so the expansion of firms and of the economy, to "Keynesian" notions of fluctuations and growth. This has led him to examine the problems that increasing percentages of debt have caused for macroeconomic performance. His book Kalecki’s Principle of Increasing Risk and Keynesian Economics was published by Routledge in 2010.
- Ph.D., Economics, Stanford University, 1982
- MA, Economics, Stanford University, 1978
- MA, Philosophy of Religion, Union Theological Seminary, 1974
- AB, Public and International Affairs, Princeton University, 1968