The Coherency of Money, Profit, Price, and Distribution

17 Pages Posted: 6 Jun 2011 Last revised: 25 May 2015

Egmont Kakarot-Handtke

University of Stuttgart - Institute of Economics and Law

Date Written: June 5, 2011

Abstract

When anything goes and nothing fits together this can be euphemized as pluralism. Lacking a common point of reference, discussions between various schools of economic thought proceed in the ‘hyperspace of assumptions’ (Mc Closkey). The incoherency of perspectives is due to self-chosen foundational assumptions. The present paper submits three structural axioms as formal core that is neutral with regard to assumptions about behavior. The objective is to clarify the interrelation of four elementary concepts and to eliminate some logical inconsistencies. Neither neoclassicals nor Keynesians came to grips with the relation between profit and the distribution of the real product.

Keywords: new framework of concepts, structure-centric, axiom set, formal core, axiom of reals, real shares of output, spending pattern

JEL Classification: B41

Suggested Citation

Kakarot-Handtke, Egmont, The Coherency of Money, Profit, Price, and Distribution (June 5, 2011). Available at SSRN: https://ssrn.com/abstract=1858031 or http://dx.doi.org/10.2139/ssrn.1858031

Egmont Kakarot-Handtke (Contact Author)

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

Keplerstrasse 17
Stuttgart
Germany

Paper statistics

Downloads
42
Abstract Views
321