[Do any list members know of any responses to this paper? I have been unable to find any]
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1845803 What is Wrong with Heterodox Economics? Kalecki’s Profit Theory as an Example Egmont Kakarot-Handtke University of Stuttgart - Institute of Economics and Law May 18, 2011 Abstract: Kalecki’s profit theory has always been popular among heterodox economist as an alternative approach to solve the paradox of monetary profits. In the present paper his formula ‘The workers spend what they get, the capitalists get what they spend’ is scrutinized for its logical and factual implications. The analysis shows that Kalecki’s alternative approach points in the right direction but unfortunately shares a crucial conceptual error with standard economics. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
