Money, Distribution Conflict and Capital Accumulation: Contributions to 'Monetary Analysis'This book demonstrates that 'monetary analysis', as contained in Post-Keynesian monetary theories, but also in the Neo-Ricardian monetary theory of distribution and in Marx's monetary analysis, can be integrated into Post-Keynesian models of distribution of growth in a convincing way. |
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Page ii
... Macroeconomics Philip Arestis, Eckhard Hein and Edwin Le Heron (editors) ASPECTS OF MODERN MONETARY AND MACROECONOMIC POLICIES Money, Distribution Conflict and Capital Accumulation Contributions to 'Monetary Analysis' Series.
... Macroeconomics Philip Arestis, Eckhard Hein and Edwin Le Heron (editors) ASPECTS OF MODERN MONETARY AND MACROECONOMIC POLICIES Money, Distribution Conflict and Capital Accumulation Contributions to 'Monetary Analysis' Series.
Page viii
... , distribution and growth theory, on the one hand, and to an alternative to modern mainstream New Consensus macroeconomics, on the other hand. Acknowledgements I am grateful to the editors and publishers of viii Foreword.
... , distribution and growth theory, on the one hand, and to an alternative to modern mainstream New Consensus macroeconomics, on the other hand. Acknowledgements I am grateful to the editors and publishers of viii Foreword.
Page 4
... macroeconomics, on the other hand. In the first part of this book we will survey the different paradigms in economics applying Schumpeter's distinction between 'real analysis' and 'monetary analysis', and we will derive some ...
... macroeconomics, on the other hand. In the first part of this book we will survey the different paradigms in economics applying Schumpeter's distinction between 'real analysis' and 'monetary analysis', and we will derive some ...
Page 5
... macroeconomic New Consensus models, building on the idea of a NAIRU as long-run equilibrium unemployment. In chapter ... macroeconomics, on the other, will be summarized and some implications for future research will be outlined. Part I ...
... macroeconomic New Consensus models, building on the idea of a NAIRU as long-run equilibrium unemployment. In chapter ... macroeconomics, on the other, will be summarized and some implications for future research will be outlined. Part I ...
Page 11
... macroeconomics has been overcome by New Keynesian economics and by the recently proposed New Consensus models.8 The New ... macroeconomic process. Commercial banks supply credit to creditworthy borrowers and the central bank accommodates ...
... macroeconomics has been overcome by New Keynesian economics and by the recently proposed New Consensus models.8 The New ... macroeconomic process. Commercial banks supply credit to creditworthy borrowers and the central bank accommodates ...
Contents
xiii | |
3 | |
6 | |
Interest Rate Distribution and Capital Accumulation PostKeynesian Models | 59 |
Distribution Conflict Inflation and Monetary Policy in a Credit Economy | 128 |
Notes | 177 |
References | 189 |
Index | 210 |
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Common terms and phrases
adjustment amount applying approach associated assumed becomes capacity utilization capital accumulation capital stock capitalist cause central bank changes chapter circuit Classical commercial banks commodity considered constant costs curve debt debt–capital ratio decisions demand depends determined developed discussed distribution and growth economy effective demand effects employment endogenous equation equilibrium expectations extended falling finance firms follows function funds GERCU GERE given hence hold households income increasing inflation inflation rates initial internal investment Kalecki Kaleckian models Keynesian labour Lavoie liquidity long-run long-run equilibrium long-term mark-up Marx Marx’s means monetary theory NAIRU negative nominal normal output payment positive Post-Keynesian production profit share propensity quantity rate of capacity rate of interest rate of profit real interest rates relation rentiers requires respect retained rising risk saving sector short short-run SIRCU SIRE stable supply tion variable