Saturday , November 26 2022
Home / Mike Norman Economics / Three Economic Ideas Threatening to Defenders of the Status Quo — Peter Cooper

Three Economic Ideas Threatening to Defenders of the Status Quo — Peter Cooper

Summary:
1. Profit as surplus labor or as a property-based claim One idea threatening to the defenders of the status quo is the recognition that profit income reflects capitalist property relations rather than productive contribution.…  2. Capitalist economies are demand constrained   The Keynesian or Kaleckian principle of effective demand may not seem quite such a hindrance to defenders of the status quo as knowledge of the nature of profit, but the motivation for its denial – at least in the long run – is easy enough to perceive.… 3. Money matters, including in the long run Also threatening to defenders of the status quo is any analysis that subjects the monetary system to scrutiny, whether it be the endogeneity of money or the implications, applicable to modern monetary systems, of

Topics:
Mike Norman considers the following as important: , , ,

This could be interesting, too:

Matias Vernengo writes What is heterodox economics? Some clarifications

Matias Vernengo writes Beyond Vulgar Economics: Conceição Tavares and Heteredox Economics

Matias Vernengo writes What’s Left of Cambridge Economics?

Daniel Becker writes Our relationship of work, technology and life

1. Profit as surplus labor or as a property-based claim
One idea threatening to the defenders of the status quo is the recognition that profit income reflects capitalist property relations rather than productive contribution.…
 2. Capitalist economies are demand constrained 
 The Keynesian or Kaleckian principle of effective demand may not seem quite such a hindrance to defenders of the status quo as knowledge of the nature of profit, but the motivation for its denial – at least in the long run – is easy enough to perceive.…
3. Money matters, including in the long run
Also threatening to defenders of the status quo is any analysis that subjects the monetary system to scrutiny, whether it be the endogeneity of money or the implications, applicable to modern monetary systems, of currency sovereignty. (Money as Taboo for Economists illustrates this sociological dynamic in operation.)...
heteconomist
Three Economic Ideas Threatening to Defenders of the Status Quo
Peter Cooper
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *