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Concordian economics and the economic bubble

Author

Listed:
  • Gorga, Carmine

Abstract

In Concordian economics, a bubble is defined as a separation of monetary values from values of real wealth. This separation is effected by the fundamental proposition of Concordian economics: Investment is income minus hoarding. This definition, in turn, allows us to identify a set of crucial relationships that exist in the economic process, namely more hoarding, less investment and less growth; more hoarding, more inflation; more hoarding, more poverty.

Suggested Citation

  • Gorga, Carmine, 2016. "Concordian economics and the economic bubble," MPRA Paper 78696, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:78696
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    More about this item

    Keywords

    A10; B40; B59; C18; D84; E01; E19; G01; K40;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • A19 - General Economics and Teaching - - General Economics - - - Other
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • E19 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Other
    • G01 - Financial Economics - - General - - - Financial Crises
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General

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