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Debunking Squared

Author

Listed:
  • Kakarot-Handtke, Egmont

Abstract

Steve Keen has debunked a good part of standard economics. However, he has left standing the theory of profit. This is unfortunate, because the theory of profit is the pivot of all of theoretical economics. This tightly focused paper clarifies the factual relation of profit and income, which should be helpful to put Keen’s alternative to the standard approach on sound foundations.

Suggested Citation

  • Kakarot-Handtke, Egmont, 2013. "Debunking Squared," MPRA Paper 51659, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:51659
    as

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    File URL: https://mpra.ub.uni-muenchen.de/51659/1/MPRA_paper_51659.pdf
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    References listed on IDEAS

    as
    1. Keen, Steve, 2010. "Solving the paradox of monetary profits," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 4, pages 1-32.
    2. Egmont Kakarot-Handtke, 2012. "The Common Error of Common Sense: An Essential Rectification of the Accounting Approach," Economics Working Paper Archive wp_731, Levy Economics Institute.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    new framework of concepts; structure-centric; consumption economy; Profit Law; market clearing; budget balancing; error detection; four quadrant scheme;
    All these keywords.

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other

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