along Ricardian lines, extended to a monetary production economy as understood by Keynes. In a monetary economy, capital is … a fund that must be maintained. This idea is captured in the circuit of capital as first defined by Marx. We introduce … the circuit of fixed capital; this circuit is closed when the present value of prospective returns from employing it is …

along Ricardian lines, extended to a monetary production economy as understood by Keynes. In a monetary economy, capital is … a fund that must be maintained. This idea is captured in the circuit of capital as first defined by Marx. We introduce … the circuit of fixed capital; this circuit is closed when the present value of prospective returns from employing it is …

along Ricardian lines, extended to a monetary production economy as understood by Keynes. In a monetary economy, capital is … a fund that must be maintained. This idea is captured in the circuit of capital as first defined by Marx. We introduce … the circuit of fixed capital; this circuit is closed when the present value of prospective returns from employing it is …

In a monetary economy capital is a fund. This idea is captured by the circuit of capital. We define a circuit for fixed … capital and argue that it is closed when the fund that initiates it is recovered in a present value sense. The circuit of … newly invested fixed capital must be equivalent to the comparable direct circuit of money. This is the condition for …

discoveries-increases the difference with the rate of return to capital r. The capital-income ratio rises, and if the elasticity … explanation, which does not presuppose full employment, the key tension is between profit-driven capital accumulation and wage … heterodox macro literature. Labor-crushing institutional or technological shocks initially foster capital accumulation -which is …

along Ricardian lines, extended to a monetary production economy as understood by Keynes. In a monetary economy, capital is … a fund that must be maintained. This idea is captured in the circuit of capital as first defined by Marx. We introduce … the circuit of fixed capital; this circuit is closed when the present value of prospective returns from employing it is …

micro data taken from the German Socio-Economic Panel. Second, rising capital income shares are associated with an …