Showing 1 - 10 of 35
information processing through the price system, and distribution. The point of entry is a transparent example of Pareto …
Persistent link: https://www.econbiz.de/10011260221
Marxian economics and standard economics are widely different yet they share a central weakness: the respective profit … theories are demonstrably false – each one in its own characteristic way. Roughly speaking, Marx tried to explain profit by … profit theory from a solid basis with no regard to either Marxian or standard premises. In order to succeed, objective …
Persistent link: https://www.econbiz.de/10011112837
-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 …
Persistent link: https://www.econbiz.de/10011257980
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
, 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
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
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
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
the pure consumption economy. The geometrical analysis makes the interrelations between income, profit and employment …
Persistent link: https://www.econbiz.de/10011259823
Economists are fond of the physicists’ powerful tools. As a popular mindset Toolism is as old as economics but the transplants failed to produce the same successes as in their aboriginal environment. Economists therefore looked more and more to the math department for inspiration. Now the tide...
Persistent link: https://www.econbiz.de/10011260316