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Abstract

The present paper replaces the standard behavioral axioms by structural axioms and applies these to the analysis of the accumulation and decumulation of capital. This yields a coherent view of the interrelations of real and nominalsaving–investment, of profit–loss, of money–credit, and of internal–external financing. The main result is that asymmetric growth is indispensable for the viability of the market system.



Item Type: MPRA Paper -

Original Title: Squaring the investment cycle-

Language: English-

Keywords: New framework of concepts; Structure-centric; Axiom set; Symmetric investment cycle; Asymmetric investment cycle; Flux-reflux; Real rate of interest; Nominal rate of profit; Financial profit; Nonfinancial profit; Roundaboutness-

Subjects: E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E22 - Investment ; Capital ; Intangible Capital ; CapacityE - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E23 - ProductionE - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E21 - Consumption ; Saving ; WealthE - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E10 - GeneralE - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E40 - General-





Autor: Kakarot-Handtke, Egmont

Fuente: https://mpra.ub.uni-muenchen.de/32904/







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