The Wine Maker’s Business and the Logical Origin of Interest in the Monetary Economy

23 Pages Posted: 7 Oct 2011 Last revised: 5 Jun 2015

Egmont Kakarot-Handtke

University of Stuttgart - Institute of Economics and Law

Date Written: October 6, 2011

Abstract

Any serious alternative to the standard approach requires a distinct axiomatic foundation. The crucial point is not axiomatization per se but the real world content of axioms. The purpose of the present paper is to make the implications of the objective structural axiom set concerning the relation of profit, money, the nominal/real rate of interest, and the time structure of production explicit and to contrast them with the familiar conceptions.

Keywords: new framework of concepts, structure-centric, axiom set, income categories, factor income, profit, rate of interest, classical capitalist

JEL Classification: B41, E40

Suggested Citation

Kakarot-Handtke, Egmont, The Wine Maker’s Business and the Logical Origin of Interest in the Monetary Economy (October 6, 2011). Available at SSRN: https://ssrn.com/abstract=1939915 or http://dx.doi.org/10.2139/ssrn.1939915

Egmont Kakarot-Handtke (Contact Author)

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

Keplerstrasse 17
Stuttgart
Germany

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