Reich (2013) recapitulates my model (Helmedag 2012a) incorrectly. Above all, he mixes up exogenous with endogenous variables. Moreover, Reich's interpretation of the system's dynamics is on the one hand formally insufficient; on the other hand, matters are presented in a more complicated way...

The causal structure of capitalistic commodity production can be revealed by notionally separating total output into two categories: 'necessaries' bought by employees, and the rest constituting society's surplus. The rate of profit is determined in the wage good industry and becomes the system?s...

The causal structure of capitalistic commodity production can be revealed by notionally separating total output into two categories: 'necessaries' bought by employees, and the rest constituting society's surplus. The rate of profit is determined in the wage good industry and becomes the system?s...

Reich (2013) recapitulates my model (Helmedag 2012a) incorrectly. Above all, he mixes up exogenous with endogenous variables. Moreover, Reich's interpretation of the system's dynamics is on the one hand formally insufficient; on the other hand, matters are presented in a more complicated way...

Marx's and Keynes's analyses of capitalism complement each other well. In a largely general model including the public sector and international trade it is shown that the labour theory of value provides a sound foundation to reveal the factors influencing employment. Workers buy 'necessaries'...

Proceeding form the optional outcome for a monopolistic trade union, the question is raised how a contract to the mutual benefit of employer and employees has to look like. The margins for an improvement for workers as well as entrepreneurs are traced out. Furthermore, a proposal of fair wages...