Details

Subject(s)

• Capitalism [Browse]
• Deficit financing [Browse]

Series

Edition transcript ; 13

Summary note

Notwithstanding its ruthless dynamics, the capitalist economy has the flaw of deficient employment-generating spending. This leads to unemployment of non-owners, individual suffering, social unrest and it undermines military strength. To deal with these issues, states use prosthetic policies, artificial transfers to the productive economy and to non-owners. But the funding of such prosthetic policies - through violent wealth appropriation abroad, protectionism, war, domestic expropriation and taxation, debt and money creation - is caught in dilemmas, while politicians are caught between non-solutions. According to Gerhard H. Wächter, the history of capitalist society is largely the history of this dilemmatic brotherhood.

Source of description

Description based on online resource; title from PDF title page (publisher's Web site, viewed 02. Jun 2024)

Rights and reproductions note

This eBook is made available Open Access under a CC BY-NC-ND 4.0 license:

Language note

In English.

Contents

• Frontmatter
• Contents
• Foreword
• Part I: Introduction to elementary economics of profit economies
• Chapter I. Praeter-Economics: Wealth procurement by violence
• Chapter II. Value, money and the economic system
• Section 1. Value and value attribution
• Section 2. Money and money creation
• Section 3. The economic system
• Chapter III. Wealth procurement by exchange
• Section 1. Consumptive and investive spending: C–M–C’ and M–C–M’
• Section 2. The productive and the sterile economy
• Section 3. A tableau économique of modern capitalism
• Section 4. An original assembly
• Part II: Ancient capitalism, the ascent of ancient prosthetics and their dilemmas
• Chapter IV. Primitive society, civilization and the ancient master drama
• Section 1. Goods procurement in primitive society
• Section 2. Primitive society and civilization
• Section 3. The master drama of ancient capitalism: Land for peasants
• Chapter V. Conservative-restorative policies and prosthetics in ancient capitalism
• Section 1. Conservative-restorative policies and prosthetics in ancient Greece
• Section 2. Conservative-restorative policies and prosthetics in ancient Rome
• Section 3. China: A glance at 2000 years of East-Eurasian ancient master drama
• Section 4. The failure of conservatism/restoration, ancient prosthetics and their dilemmas
• Part III: The deficiency of employment-generating spending in modern capitalism
• Chapter VI. The master drama of modern capitalism: Employment for workers
• Chapter VII. The structural deficiency of employmentgenerating spending in modern capitalism
• Section 1. Circuit closure analysis
• Section 2. Quesnay’s dépenses-integrated “royaume agricole”
• Section 3. Smith: An invisible hand over suppliers and customers
• Section 4. Proudhon and Sismondi: Producers cannot buy their produce
• Section 5. Malthus: Costs cannot buy value
• Section 6. What Say said and Ricardo’s Law of Say
• Section 7. Marx’s insufficient theory on insufficient employmentgenerating spending
• Section 8. Keynes: Firms’ deficient employment-generating spending as deficient remedy for consumers’ deficient employment-generating spending
• Section 9. Kalecki: Only capitalists can save capitalists
• Section 10. Minsky: Liquidity and firms’ employment-generating spending
• Chapter VIII. The deficient-producive-spendingsyndrome
• Section 1. A merely abstract possibility of circuit closure in capitalism
• Section 2. The drain of wealth out of the productive economy
• Section 3. The deficient-producive-spending-syndrome
• Section 4. Secondary dynamics and the deficient-producive-spendingsyndrome
• Part IV: The prosthetics of modern capitalism and their dilemmas
• Chapter IX. Redistributive and expansive prosthetics
• Chapter X. Redistributive prosthetics funded without money creation
• Section 1. Redistributive prosthetics funded with domestic taxation and expropriations
• Section 2. Redistributive prosthetics funded with war, external violent wealth procurement and protectionism
• Section 3. Redistributive prosthetics funded with redistributive debt
• Chapter XI. Expansive prosthetics funded with money creation in commodity money regimes
• Section 1. Expansive prosthetics funded with commodity money creation
• Section 2. Expansive prosthetics funded with merchant credit money creation
• Section 3. Expansive prosthetics funded with private bank credit money creation
• Chapter XII. Expansive prosthetics funded with money creation in state fiat money regimes
• Section 1. From commodity money regimes to state fiat money regimes
• Section 2. State fiat money creation aside private bank credit money creation
• Section 4. Expansive prosthetics funded with state fiat money creation
• Chapter XIII. The dilemmas of the prosthetics of modern capitalism
• Afterword: An outlook in questions and answers
• Appendix
• Conventions
• List of Figures
• References

Show 59 more Contents items

ISBN

• 9783839472781
• 3839472784

Doi

• 10.1515/9783839472781

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