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...

This paper surveys the research trends and activities abroad and in Korea since 1980s in the area of '(Non-Marxian) non-mainstream economics', mainly classified into Sraffian Economics and Post-Keynesian Economics. Research in Sraffian Economics is examined under the topics of long-period...

Ciccarone (2004) attempts to show that the Pasinetti theorem allows for the profit-making financial sector. In this effort, however, he ends up with unwittingly associating the theorem with the Wicksellian monetary theory. The present note traces the origin of this uncomfortable association to...

A nondurable producer good that incurs no interest cost, which implies the instantaneous period of production, is a feature of many important models. We investigate various issues arising from this feature: counting the uncountably infinite (pace Cantor), modeling time as two infinitely distant...

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...

A typical horizontal innovation model has three sequentially connected sectors. I argue that this structure of the model necessitates the compounding of interest on an input that goes through multiple production periods before the final good is produced. This aspect is missed (or deliberately...

The paper sets up an analytical framework that 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...

Horizontal innovation models have a common structure of three sequentially connected sectors. This structure--production of commodities by means of commodities--necessitates the compounding of interest on an input that goes through multiple production periods before the final good is produced. I...

This is the first of two volumes celebrating Keynes's contribution to economics, and the development of post Keynesian economics in recent years. It reinstates the importance of Keynesian economics and its revival since the end of the 1980s, and the book's authoritative chapters are presented by...