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This paper investigates the dynamics of income distribution, private debt, and aggregate demand in the United States in the era before the Great Depression. Based on a post-Keynesian model, I estimate the effects of the wage share and private debt on aggregate demand for private domestic output....
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Argentina's economic and institutional decline has long posed a conundrum to economists and social scientists. In … precede inclusive institutions face a similar problem, since Argentina was one of the most educationally advanced countries in … decadence and posits that, in Argentina, rising commodity prices have driven the cycles of populism. …
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A debt-based financial system is incompatible with a truly competitive economy. Our system exists by choice, not the … ignored inequities and fallacies inherent in major aspects of our economy and of economic theory. The text explains how the …
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