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SOME heuristic Advantages of revising the current Conception of Profit

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Author Info
Kroës, Romain M.
Abstract

The present paper puts forward a new hypothesis about the economic circuit, which is a product of Marx’s “period of production” and Keynes’s determination order between investment and savings. It leads to a new definition of profit which excludes any remaining competition between savings and consumption on the global scale, and to a revision of National-Accounts’ equation of global income. Finally, the main heuristic benefits of these theoretical developments consist of both acquiring a specific economic time, as an explanatory variable, and demystifying the race to productivity as being globally a Sisyphean task; this will be statistically confirmed.

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File URL: http://mpra.ub.uni-muenchen.de/10761/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10761.

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Date of creation: 25 Sep 2008
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Handle: RePEc:pra:mprapa:10761

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Find related papers by JEL classification:
B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
B0 - Schools of Economic Thought and Methodology - - General
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C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Hypothesis Testing
B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
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C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models

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This page was last updated on 2008-11-17.

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