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Beginning, crises, and end of the money economy in three consistent steps

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  • Kakarot-Handtke, Egmont

Abstract

A crisis is but a crisis when the long run outlook is definitively positive. Then a lower turning point must exist. This implicates a vision or, in the ideal case, a formalized theory of the money economy’s possible end states. This theory has to provide an endogenous explanation of end states and crises. The equilibrium approach excludes endogenous causes in principle. Thus disturbances can only be explained by exogenous random shocks. The structural axiomatic approach, that is applied in the following, consistently defines the potential systemic crisis point and the conditions of an economic happy end.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 31175.

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Date of creation: 29 May 2011
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Handle: RePEc:pra:mprapa:31175

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Related research

Keywords: New framework of conceps; Structure-centric; Axiom set; Zero profit economy; Distributed profit; Systemic crisis point; Logical end states;

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  1. Kakarot-Handtke, Egmont, 2011. "The pure logic of value, profit, interest," MPRA Paper 30853, University Library of Munich, Germany.
  2. Kakarot-Handtke, Egmont, 2011. "Keynes’s missing axioms," MPRA Paper 31179, University Library of Munich, Germany.
  3. Sheila C. Dow, 2005. "Axioms and Babylonian thought: a reply," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 27(3), pages 385-391, April.
  4. Chick, Victoria, 1998. "On Knowing One's Place: The Role of Formalism in Economics," Economic Journal, Royal Economic Society, vol. 108(451), pages 1859-69, November.
  5. Kakarot-Handtke, Egmont, 2011. "Schumpeter and the essence of profit," MPRA Paper 31176, University Library of Munich, Germany.
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