Income Distribution and Crisis in a Marxian Schema of the Monetary Circuit
This paper aims to provide an interpretation of economic crises by superimposing Marxian and institutional issues on the theoretical framework of the monetary theory of production. The dynamics of wages are considered, along with investment and conspicuous consumption on the part of rentiers, in order to show that the current economic crisis ultimately results from the combination of declining wage shares, increasing financial rents, and reduced investment.
Volume (Year): 40 (2011)
Issue (Month): 3 (October)
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