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This paper proposes two theoretical dynamic models (Models A and B) to analyze the interaction between distributive and financial cycles in capitalist economies. Model A assumes investment equals savings at the aggregate level but assumes a delay between capitalists saving their income and...
Persistent link: https://www.econbiz.de/10015213710
failure of mainstream economic theory, it is time to reevaluate the contributions of authors like Keynes, Kindleberger and …
Persistent link: https://www.econbiz.de/10015214093
CNMT (Classical Neoclassical Monetary Theory) has defined monetary policy and the role of Central Banks for the last … one hundred years. This book argues that it is time to change. It proposes a NMT (New Monetary Theory) which argues that … receive and repay long term preferential loans. NMT implies a major revolution both in Monetary Theory and in Monetary Policy …
Persistent link: https://www.econbiz.de/10015214321
In social sciences there has been a long debate between the defenders of institutionalism and those of liberalism. The debate has centered around the relationship that exists between the individual (agent) and the social institutions (social structure). In general, liberalism defends that the...
Persistent link: https://www.econbiz.de/10015214325
The main thesis in this manuscript is that a social choice theory based on aggregating individual preferences and …
Persistent link: https://www.econbiz.de/10015214328
The argument made in this manuscript is that the two traditional macroeconomic tools, fiscal policy and monetary policy, are insufficient to bring back efficiently into equilibrium an economy that has had a major crisis. Both traditional macro-tools only work through the demand side, and there...
Persistent link: https://www.econbiz.de/10015214329
In less than fifteen years, the world has experienced the worst financial crisis since the 1930’s, the worst global pandemic since the flu in 1918, and the largest war fought since the Second World War. This manuscript argues that these crises are not isolated events. The main thesis is that...
Persistent link: https://www.econbiz.de/10015214330
This book presents the reasons for which, given the globalization brought about by the ICT revolution, both liberalism and realism are ill suited as guides for international relations. And it argues in favor of a third option: institutionalism. The liberal ideal of progress and peace, brought...
Persistent link: https://www.econbiz.de/10015214332
required. Both have been wrong. Modern economic theory in information economics, game theory and institutional economics has …
Persistent link: https://www.econbiz.de/10015214333
This study aims to review major economic crises throughout the centuries, in order to see what valuable lessons can be learned from re-examining them. As the 20th century was marked by tremendous economic turmoils, that changed the world economy of today, we will focus on the Great Depression of...
Persistent link: https://www.econbiz.de/10015214336