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Essentials of Constructive Heterodoxy: Employment

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  • Kakarot-Handtke, Egmont

Abstract

Orthodox economics is founded on behavioral assumptions. This has been the wrong starting point because no way leads from there to an understanding of how the economic system works. Critical Heterodoxy is one step ahead insofar as it does not accept the green cheese assumptionism of optimization and supply-demand-equilibrium, yet this is not sufficient to establish a superior paradigm. What we have at the moment is a plurality of debunked theories. This is not a tenable situation. Consequently, Constructive Heterodoxy is focused on the formally consistent reconstruction of central economic phenomena like market, money, profit, and - in this paper - employment.

Suggested Citation

  • Kakarot-Handtke, Egmont, 2015. "Essentials of Constructive Heterodoxy: Employment," MPRA Paper 62795, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:62795
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    File URL: https://mpra.ub.uni-muenchen.de/62795/1/MPRA_paper_62795.pdf
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    References listed on IDEAS

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    1. Kakarot-Handtke, Egmont, 2014. "Economics for Economists," MPRA Paper 59659, University Library of Munich, Germany.
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    More about this item

    Keywords

    new framework of concepts; structure-centric; law of supply and demand; price flexibility; structural labor market inertia; income multiplier; stagflation; deflation;
    All these keywords.

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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