Essentials of Constructive Heterodoxy: Aggregate Demand

23 Pages Posted: 15 Feb 2015 Last revised: 16 Feb 2015

Egmont Kakarot-Handtke

University of Stuttgart - Institute of Economics and Law

Date Written: February 13, 2015

Abstract

Heterodoxy has left not one stone unturned and has unraveled a plethora of errors/mistakes/contradictions of Orthodoxy. The outcome of this prolonged critical and self-critical process is that there is actually no acceptable and accepted theoretical economics. The need of a paradigm shift is irrefutable. There is less need of further debunking exercises. For Constructive Heterodoxy follows that the subjective axiomatic foundation of Orthodoxy has to be replaced. All economic conceptions have to be consistently reconstructed. What comes to mind first are phenomena like market, profit, money, employment or aggregate demand. The latter is dealt with in the following.

Keywords: new framework of concepts, structure-centric, Structural Law of Supply and Demand, public debt, minimum profit, breakdown, Ricardian equivalence

JEL Classification: B59, E00

Suggested Citation

Kakarot-Handtke, Egmont, Essentials of Constructive Heterodoxy: Aggregate Demand (February 13, 2015). Available at SSRN: https://ssrn.com/abstract=2564590 or http://dx.doi.org/10.2139/ssrn.2564590

Egmont Kakarot-Handtke (Contact Author)

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

Keplerstrasse 17
Stuttgart
Germany

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