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capitalist economies. This underrates Keynes’ role as a precursor of modern information economics, and risks losing significant …
Persistent link: https://www.econbiz.de/10011031802
This paper presents a one-sector model where investment and autonomous expenditures determine the growth rate of income. The analysis starts with the dynamics of demand-led growth and the interaction between investment and autonomous expenditures. Since by definition investment determines the...
Persistent link: https://www.econbiz.de/10005795526
Thomas Piketty attributes increasing wealth inequality to the characteristics of a neoclassical aggregate production function, which is known not to exist. A more plausible narrative is that wage repression can lead to secular stagnation by enriching the rentier. Lower economic activity...
Persistent link: https://www.econbiz.de/10011031807
This paper offers a fresh look at the economic theories advanced by Keynes. Keynes correctly asserted that in a …
Persistent link: https://www.econbiz.de/10005696097
Persistent link: https://www.econbiz.de/10011183644