This article presents a theory of labor discrimination based on the behavior of economic agents that maximize utility and profits. The article makes use of a monopsony that hires workers that have the same labor productivity, to focus on perfect discrimination; discrimination by quantities of...

Conventional wisdom suggests that nominal, demand-side shocks have only temporary effects on real macroeconomic magnitudes and that the duration of their effects depends on the degree of nominal inertia. It is also argued that, in the absence of unit roots, temporary supply-side shocks also have...

The goal of scientific work is to understand more and more by less and less. In this effort, theoretical unification plays a large part. There are two main types of theoretical unification - unification of different theories of the same field of phenomena and unification of theories of different...

Preface -- 1.Introduction -- 2.Fundamental Structure of Capitalist Economy -- 3.Extended Reproduction in the Capitalist -- 4.Accumulation and Crisis in Capitalist System Economy -- 5.Tendency Law in Capitalistic Accumulation -- 6.A Vision Toward New Society.