Godley, Wynne; Shaikh, Anwar - In: Journal of Post Keynesian Economics 24 (2002) 3, pp. 423-441
The neoclassical macroeconomic dichotomy between real and nominal variables is shown to be generally false, even within the standard structure of the model. The model implicitly assumes that disbursements via interest payments on bonds somehow ensure that all profits are disbursed. But the two...