Basic Principles to Understand Macroeconomics

Basil Oberholzer ()
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Basil Oberholzer: University of Bern

Chapter Chapter 4 in Fighting Global Poverty, 2022, pp 17-26 from Springer

Abstract: Abstract The assumptions of neoclassical theory fail to appropriately account for the complexity and dynamics of a capitalist economy. This chapter introduces some key macroeconomic principles such as the concept of endogenous money, the monetary circuit, uncertainty, effective demand, and the rate of profit, which allow for an adequate understanding of economic realities.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-658-36631-5_4

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DOI: 10.1007/978-3-658-36631-5_4

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