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Profit als Rente. Anmerkungen zu einer pro-kapitalistischen Entwicklungstheorie
[Profit as rent: Some remarks about a pro-capitalist theory of development]

Author

Listed:
  • Quaas, Georg

Abstract

Profit as rent: Some remarks about a pro-capitalist theory of development This study discusses several of the economic cornerstones of the contribution made by Hartmut Elsenhans to the so-called Global Keynesianism. Included are his unique definition of profits and rents; the thesis of net investments as a prerequisite to the acquisition of profits, including the systematic and historic background of this thesis; the exploitation of a simple neoclassical production function by ignoring conceptually ill-fitting consequences; the stabilization of investors’ expectations of rising mass consumption on the base of rising real income; the author's over- and under-interpretation of Ricardo’s theory on international trade based on comparative cost advantages; and the role of mass democracy in the acquisition and redistribution of rents to empower the underprivileged in negotiations with entrepreneurs.

Suggested Citation

  • Quaas, Georg, 2014. "Profit als Rente. Anmerkungen zu einer pro-kapitalistischen Entwicklungstheorie [Profit as rent: Some remarks about a pro-capitalist theory of development]," MPRA Paper 55912, University Library of Munich, Germany, revised May 2014.
    • Handle: RePEc:pra:mprapa:55912
    as

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    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. A. W. Phillips, 1958. "The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957," Economica, London School of Economics and Political Science, vol. 25(100), pages 283-299, November.
    3. Quaas, Georg, 1993. "Massenkonsum oder Unterentwicklung in der "Dritten Welt"? Randbemerkungen zu den polit-ökonomischen Thesen von Hartmut Elsenhans [Mass consumption and underdevelopment in the „Third World," MPRA Paper 56624, University Library of Munich, Germany.
    4. Hermann Adam, 2014. "Die politische Ökonomie wachsender Ungleichverteilung der Einkommen," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 94(2), pages 104-111, February.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Global Keynesianism; rent-seeking; mass consumption; comparative cost advantages;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade

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