decisive drawback of conventional exchange models, though, is that they cannot explain profit. Standard economics rests on …

center to the periphery. From elementary systemic properties the relation of income and profit is then consistently derived …. This solves the profit conundrum. …

its relation to investment and profit. It starts from the fact that there is no such thing as a real economy. Hence …

the asset market and its consequences for the household and business sector. From the set of structural axioms emerge the …

change profit expectations index’ to replace the utility curve maximising agent concept. The AIE model has an interactive … the Dun and Bradstreet Profit Expectations Survey. The paper finds network averaging improves the predictive performance … maximising agent. Finally, in this paper AIE models profit expectations, which are an important issue in their own right because …

-entry bookkeeping methodology but lacks an acceptable profit theory. In this respect it is not different from familiar approaches …. Clearly, a deficient profit theory prevents a proper understanding of how the real world economy works. The present paper …