Arbeitspapier
Solving the paradox of monetary profits
Bruun and Heyn-Johnsen (2009) state the paradox that economics has failed to provide a satisfactory explanation of how monetary profits are generated, even though the generation of a physical surplus is an established aspect of non-neoclassical economics. They emphasise that our ability to explain phenomena like the Global Financial Crisis (GFC) will be limited while ever we are still unable to explain this fundamental aspect of capitalism. In fact this paradox can be solved very simply, using insights from what is known as Circuit Theory. In this paper the author shows how monetary profits are generated, and introduces a multisectoral dynamic disequilibrium monetary model of production.
- Sprache
-
Englisch
- Erschienen in
-
Series: Economics Discussion Papers ; No. 2010-2
- Klassifikation
-
Wirtschaft
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
General Aggregative Models: Forecasting and Simulation: Models and Applications
Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General (includes Measurement and Data)
Money Supply; Credit; Money Multipliers
- Thema
-
Endogenous money
circuit theory
Geldtheorie
Kredittheorie
Gewinn
Ungleichgewichtstheorie
Dynamisches Modell
Mehr-Sektoren-Modell
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Keen, Steve
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute for the World Economy (IfW)
- (wo)
-
Kiel
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Keen, Steve
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2010
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