The Pure Logic of Value, Profit, Interest

Unemployment Out of Nowhere

“…For the remainder of this inquiry the period length is conveniently assumed to be the calendar year. Simplicity demands that we have for the time being one world economy, one firm, and one product (the consistent differentiation of the axiom set is carried out in Kakarot-Handtke, 2011b).…”

Reconstructing the Quantity Theory (I)

“…On the contrary, the structural axiom set is open to any behavioral assumption and not restricted to the standard optimization calculus. The case for structural axiomatization has been made at length elsewhere (Kakarot-Handtke, 2011a, 2011c, or 2011b), thus we can proceed without further methodological preliminaries.…”