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Economics: The Open-Access, Open-Assessment E-Journal Dataverse
Solving the Paradox of Monetary Profits [Dataset]
hdl:1902.1/14010
Version: 2 – Released: Mon Nov 01 06:09:24 EDT 2010
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Study Global IDhdl:1902.1/14010
AuthorsSteve Keen (University of Western Sydney)
Production Date2010
Software Mathcad
DistributorEconomics: The Open-Access, Open-Assessment E-Journal Logo
Distributor ContactKorinna Werner-Schwarz (IfW), korinna.werner-schwarz@economics-ejournal.org
Distribution Date2010
Deposit DateJanuary 11, 2010
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Abstract

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.

Abstract Date2010
KeywordsEndogenous money; circuit theory
Topic ClassificationE20 (JEL); E51 (JEL); E12 (JEL); E17 (JEL)
Related PublicationsSteve Keen (2010). Solving the Paradox of Monetary Profits. Economics Discussion Papers, No 2010-2. http://www.economics-ejournal.org/economics/discussionpapers/2010-2; Steve Keen (2010). Solving the Paradox of Monetary Profits. Economics: The Open-Access, Open-Assessment E-Journal, Vol. 4, 2010-31. doi:10.5018/economics-ejournal.ja.2010-31, http://dx.doi.org/10.5018/economics-ejournal.ja.2010-31
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"Solving the Paradox of Monetary Profits [Dataset]", hdl:1902.1/14010