Beginning, crises, and end of the money economy in three consistent steps
AbstractA 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 InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 31175.
Date of creation: 29 May 2011
Date of revision:
New framework of conceps; Structure-centric; Axiom set; Zero profit economy; Distributed profit; Systemic crisis point; Logical end states;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- D33 - Microeconomics - - Distribution - - - Factor Income Distribution
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-04 (All new papers)
- NEP-MAC-2011-06-04 (Macroeconomics)
- NEP-MON-2011-06-04 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Keynes’s missing axioms,"
32742, University Library of Munich, Germany, revised 11 Aug 2011.
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