Item Infomation
Title: |
Endogenous constraints on full productive capacity in a free-market economy |
Authors: |
Nicolas D., Cole |
Issue Date: |
2023 |
Publisher: |
Springer |
Abstract: |
The full employment interest rate implicit in classical economic theory is 4½%, deduced by including the rate of normal profit in a simple macroeconomic model. By not fixing the interest rate at this optimum, Central Banks endogenously maintain excess productive capacity, cause unemployment, and encourage the exploitation of Labour by Capital. |
Description: |
CC BY |
URI: |
https://link.springer.com/article/10.1007/s40844-023-00254-y https://dlib.phenikaa-uni.edu.vn/handle/PNK/7737 |
Appears in Collections |
OER - Kinh tế và Quản lý |
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