Publications

Working Paper No. 405 | April 2004

Some Simple, Consistent Models of the Monetary Circuit

We address the finance motive and the determination of profits in the Monetary Theory of Production associated with the Circuitist School. We show that the "profit paradox" puzzle addressed by many authors who adopt this approach can be solved by integrating a simple Circuit model with a consistent set of stock-flow accounts. We then discuss how to reconcile some crucial differences between the Circuit approach and other Keynesian and post-Keynesian models.


Publication Highlight

Working Paper No. 1073
Frankenstein in Fact and Fiction
Lecture at Bard College, November 19, 2024
Author(s): Robert Skidelsky
December 2024

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