Monday , December 23 2024
Home / Tag Archives: Conventional Rate of Interest

Tag Archives: Conventional Rate of Interest

A Brief Sketch of the Classical-Keynesian Perspective

By David Fields, originally posted hereFrom a Classical-Keynesian perspective (Bortis, 1997, 2003), rates of interest regulate rates of profits (Panico, 1980, 1985), and, thus, real wages are endogenously determined. The presence of financial instruments, which represent titles to future flows of income, makes it so that the actual center of distributive conflict in capitalism lies not in the technical conditions of production, but is rather governed by the real rate of interest, which is...

Read More »