Beginning, Crises, and End of the Money Economy

21 Pages Posted: 2 Jun 2011 Last revised: 23 May 2015

Egmont Kakarot-Handtke

University of Stuttgart - Institute of Economics and Law

Date Written: May 30, 2011

Abstract

A crisis is but a crisis when the long run outlook is definitively positive. Then a lower turning point must exist. This implicates a vision or, in the ideal case, a formalized theory of the money economy’s possible end states. This theory has to provide an endogenous explanation of end states and crises. The equilibrium approach excludes endogenous causes in principle. Thus disturbances can only be explained by exogenous random shocks. The structural axiomatic approach, that is applied in the following, consistently defines the potential systemic crisis point and the conditions of an economic happy end.

Keywords: new framework of conceps, structure-centric, axiom set, zero profit economy, distributed profit, systemic crisis point, logical end states

JEL Classification: B41, D33, E21, E32, E40

Suggested Citation

Kakarot-Handtke, Egmont, Beginning, Crises, and End of the Money Economy (May 30, 2011). Available at SSRN: https://ssrn.com/abstract=1855578 or http://dx.doi.org/10.2139/ssrn.1855578

Egmont Kakarot-Handtke (Contact Author)

University of Stuttgart - Institute of Economics and Law ( email )

Keplerstrasse 17
Stuttgart
Germany

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