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Essentials of Constructive Heterodoxy: Institutions

Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2015

What do economists understand about the economy if they do not understand the profit phenomenon? Next to nothing …. Therefore, the very first task in theoretical economics is to clarify the difference between profit and wage income and their …

Persistent link: https://www.econbiz.de/10011267893

The common error of common sense: an essential rectification of the accounting approach

Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2012

The present paper takes the explanatory superiority of the integrated monetary approach for granted. It will be demonstrated that the accounting approach could do even better provided it frees itself from theoretically ill-founded notions like GDP and other artifacts of the equilibrium approach....

Persistent link: https://www.econbiz.de/10011258616

The Case for Simplicity: a Paradigm for the Political Economy of the 21st Century

Freeman, Alan - Volkswirtschaftliche Fakultät, … - 2001

This is a pre-publication of the chapter of the same name which was first published in Freeman et al (2001), reproduced with the kind permission of the publishers. I have re-organized it for scholarly use as a separate text, with the references included and with footnotes instead of endnotes. I...

Persistent link: https://www.econbiz.de/10011259243

Confused confusers. How to stop thinking like an economist and start thinking like a scientist

Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2013

, as a matter of principle, afford a correct profit theory, (b) without a correct profit theory it is impossible to …

Persistent link: https://www.econbiz.de/10011259277

Towards a revision of the theory of capital

Cavalieri, Duccio - Volkswirtschaftliche Fakultät, … - 2013

. An analytical method is proposed to accomplish this task. The fundamental Marxian problem of the origin of profit is …

Persistent link: https://www.econbiz.de/10011259280

Adaptive Interactive Profit Expectations and Small World Networks

Bell, William Paul - Volkswirtschaftliche Fakultät, … - 2008

The aim of this paper is to simulate profit expectations as an emergent property using an agent based model. The paper … interactive profit expectations model (AIE). Understanding the diffusion of interactive expectations is aided by using a network … to simulate the flow of information between firms. The AIE model is tested against a profit expectations survey. The …

Persistent link: https://www.econbiz.de/10011259382

Intertwined real and monetary stochastic business cycles

Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2012

There is no such thing as a real economy. The task, therefore, is to consistently reconstruct the fluctuations of employment and output from the interactions of real and nominal variables. The present paper does exactly this. No nonempirical concepts like utility, equilibrium, rationality,...

Persistent link: https://www.econbiz.de/10011259544

The emergence of profit and interest in the monetary circuit

Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2012

Efficient progress of the monetary theory of production (MTP) is hampered by an unsatisfactory account of how profit …

Persistent link: https://www.econbiz.de/10011259567

How to Get Rid of Demand–Supply–Equilibrium for Good

Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2003

The present paper provides a substantial re-conceptualization of the serial clearing of the product market on the basis of structural axioms. This change of premises is required simply because from the accustomed premises only the accustomed conclusions can be derived and these are known to be...

Persistent link: https://www.econbiz.de/10011259782

Geometrical exposition of structural axiomatic economics (I): Fundamentals

Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2012

the pure consumption economy. The geometrical analysis makes the interrelations between income, profit and employment …

Persistent link: https://www.econbiz.de/10011259823