Unless equality is exogenously imposed between the rate of growth of autonomous demand and the warranted rate, a given rate of growth of autonomous demand generates various 'short-period' warranted rates of growth, period by period. In a stable case, these 'short-period' warranted rates converge...

In writing about the "rhetoric of economics" - particularly about the standards which prevent situations where "anything goes" in argument - McCloskey takes an eclectic approach to two philosophical positions, based on Rorty and Habermas respectively. But these positions, despite sharing some...

It is argued that the use of an aggregate accumulation function in the 'Kalecki-Steindl' approach conceals the problem of overdetermination in that approach. Three possible solutions to overdetermination within the framework of that approach are then shown to pose serious problems. A suggestion...

This paper combines two major contributions by Kaldor: the view that the supply of money, ensuing mainly from bank credit, is endogenous, and the framework which assigns a crucial role to the saving and investment behaviour of corporations in determining the general rate of profit (the...

In a paper published in this journal, Giuseppe Ciccarone (2004) attempts to show that the Pasinetti theorem allows for the profit-making financial sector. In this effort, however, he ends up unwittingly associating the theorem with the Wicksellian monetary theory. The present note traces the...

Palley (Inside debt, aggregate demand, and the Cambridge theory of distribution, Cambridge Journal of Economics, vol. 20, no. 4, 465--74, 1996; Financial institutions and the Cambridge theory of distribution, Cambridge Journal of Economics, vol. 26, no. 2, 275--7, 2002) considers the Pasinetti...

The paper presents a model of a simplified pure credit money economy, in the setting of the steady-state growth. Despite obvious limitations coming from drastic simplifications, the resulting simplicity brings into sharp relief some important points related to the endogeneity of money. Arguments...

I identify and correct some logical problems of the 1990 Romer model of horizontal innovation. The model's setting where all the produced inputs are durable is inconsistent with the proposed Dixit-Stiglitz production function; also, Romer's "accounting measure of capital" (and its variants in...

The paper sets up an analytical framework which is based on simplified balance sheets of the banking, the non-banking private and the government sectors, in order to identify four primary routes through which money can be generated endogenously and to discuss their characteristics. These routes...