production” and Keynes’s determination order between investment and savings. It leads to a new definition of profit which …

at the current state of profit theory in the mainstream economics. Here it identifies a few issues which include the … concept of profit, its source and its relationship with the notion of entrepreneurship. It argues that profit theory with …. Profit as a surplus over costs arises because of dynamic change and is institutional in its appropriation going largely to …

change profit expectations index’ to replace the utility curve maximising agent concept. The AIE model has an interactive … the Dun and Bradstreet Profit Expectations Survey. The paper finds network averaging improves the predictive performance … maximising agent. Finally, in this paper AIE models profit expectations, which are an important issue in their own right because …

-entry bookkeeping methodology but lacks an acceptable profit theory. In this respect it is not different from familiar approaches …. Clearly, a deficient profit theory prevents a proper understanding of how the real world economy works. The present paper …