Multiple Exchange Equilibrium and the Balance Sheet
As one concludes spot contracts as well as financial contracts and forward contracts, the solution of the model described in the preceding chapters bears the name multiple exchange equilibrium. Based on this model, the different components of the wealth o
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Economic Theory in the 21st Century Towards a Renewed Understanding of Money and Capital from a System-wide Perspective
Economic Theory in the 21st Century
Dirk Kaiser
Economic Theory in the 21st Century Towards a Renewed Understanding of Money and Capital from a System-wide Perspective
Dirk Kaiser FB Wirtschaft Bochum University of Applied Sciences Bochum, Germany
ISBN 978-3-658-30638-0 ISBN 978-3-658-30639-7 https://doi.org/10.1007/978-3-658-30639-7
(eBook)
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Preface
A Terminology from the Times of the Cold War Capital in the 21st Century by Piketty (2013) and Lilith and the Demons of Capital by Sedláček and Tanzer (2015): The historically encumbered concepts of “capital”, “capitalist” and “capitalism” have apparently reentered the stage of political and scientific discussion—in fascinating and highly sophisticated studies like these, but also in the topical talk of the day. Intermediately, a period of almost 25 years (from 1989 to perhaps 2013), when oil was put on the troubled waters, followed 140 years of ideological dispute and systems competition (from the “Communist Manifesto” in 1848 to the fall of the Iron Curtain in 1989). It is the belief of the author of this book that these concepts are not only historically encumbered, but also precarious from a theoretical point of view. The classical subdivision of the factors of production into capital, land and labor that one may find originally with Smith, Ricardo, and Marx origi
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