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An inconsistency in using stock flow consistency in modelling the monetary profit paradox
de la Fonteijne, Marcel - 2014
the phrase of Marx, 'Die Gesamtklasse der Kapitalisten kann nichts aus der Zirkulation herausziehen, was nicht vorher …
Persistent link: https://www.econbiz.de/10010329605
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An inconsistency in using stock flow consistency in modelling the monetary profit paradox
de la Fonteijne, Marcel R. - In: Economics: The Open-Access, Open-Assessment E-Journal 8 (2014) 2014-15, pp. 1-7
phrase of Marx: 'Die Gesamtklasse der Kapitalisten kann nichts aus der Zirkulation herausziehen, was nicht vorher …
Persistent link: https://www.econbiz.de/10010335662
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Causes and consequences of the financial crisis and the implications for a more resilient financial and economic system
Hein, Eckhard - 2016
The increasing dominance of finance starting in the late 1970s/early 1980s in the US and the UK, and somewhat later in other countries, was associated with two fundamental and structural processes generating the contradictions of this phase of development and finally the financial and economic...
Persistent link: https://www.econbiz.de/10011431825
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Kazimierz Łaski's Lectures in Macroeconomics under financial capitalism
Osiatyński, Jerzy - In: European Journal of Economics and Economic Policies: … 16 (2019) 3, pp. 302-317
The paper summarizes the discussion among Łaski's inner circle regarding the relevance of Kaleckian treatment of money under financial capitalism. The context of that debate was the project of a joint textbook in macroeconomics, the building blocks of which would be Kalecki's theory, and which...
Persistent link: https://www.econbiz.de/10014363359
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A Minskyan road to financial reform
Wray, L. Randall - 2011
In the aftermath of the global financial collapse that began in 2007, governments around the world have responded with reform. The outlines of Basel III have been announced, although some have already dismissed its reform agenda as being too little (and too late!). Like the proposed reforms in...
Persistent link: https://www.econbiz.de/10010281697
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Minsky crisis
Wray, L. Randall - 2011
Stability is destabilizing. These three words concisely capture the insight that underlies Hyman Minsky's analysis of the economy's transformation over the entire postwar period. The basic thesis is that the dynamic forces of a capitalist economy are explosive and must be contained by...
Persistent link: https://www.econbiz.de/10010281733
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Financial Keynesianism and market instability
Wray, L. Randall - 2011
two years ago is a classic Fisher-Minsky debt deflation. The appropriate way to analyze this transformation and collapse …
Persistent link: https://www.econbiz.de/10010281738
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Lessons we should have learned from the global financial crisis but didn't
Wray, L. Randall - 2011
In this paper, I first quickly recount the causes and consequences of the global financial crisis (GFC). Of course, the triggering event was the unfolding of the subprime crisis; however, I argue that the financial system was already so fragile that just about anything could have caused the...
Persistent link: https://www.econbiz.de/10010286520
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The paradox of monetary profits : an obstacle to understanding financial and economic Crisis?
Bruun, Charlotte; Heyn-Johnsen, Carsten - 2009
Marx and Keynes tried to solve the problem by addressing current transaction flows, which is also the approach taken by … Marx. Capitalists as a whole can at most get from workers, what they already paid out in wages. Marx did not solve this … problem, and neither did Keynes, who had to face the problem in “The General Theory”. A consequential logical conclusion to …
Persistent link: https://www.econbiz.de/10003905099
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Minsky crisis
Wray, L. Randall - 2011
Stability is destabilizing. These three words concisely capture the insight that underlies Hyman Minsky's analysis of the economy's transformation over the entire postwar period. The basic thesis is that the dynamic forces of a capitalist economy are explosive and must be contained by...
Persistent link: https://www.econbiz.de/10008906540