Profit Lacuna

James E. Sawyer
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James E. Sawyer: Seattle University

Chapter 7 in Why Reaganomics and Keynesian Economics Failed, 1987, pp 87-104 from Palgrave Macmillan

Abstract: Abstract Recall in Ricardo’s system the significance of equality between saving and investment. It is a condition of equilibrium embedded in the comparative static method. In equilibrium, all opposing forces in a system are cancelled out. Without a change in some system parameter, we would expect the status quo to prevail in perpetuity. In economics, there are only two cases in which saving and investment equality may remain constant over time. Both are steady states.

Keywords: Risk Premium; Wealth Creation; Neoclassical Theory; Capitalist Service; Marginal Revenue Product (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09497-4_7

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DOI: 10.1007/978-1-349-09497-4_7

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