The present paper puts forward a new economic circuit of value, 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 rush to productivity as being globally nothing but a Sisyphean task; this will be statistically confirmed
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
11725.
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