AT INCEPTION

E Ray Canterbery

Chapter 13 in Inequality and Global Supra-surplus Capitalism, 2018, pp 219-224 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Like the Roman God, Janus, supra-surplus capitalism has two faces. One is of industrial surplus and the other of financial excess which I chose to call “casino capitalism.” Like all things, it has a beginning, but, like the movie “Casablanca,” it could have any one of two endings. Or, like F. Scott Fitzgerald’s The Last Tycoon, it may not have an ending. Present at inception was Ronald Wilson Reagan. It has reemerged every few years. It is instructive nonetheless to go back to the beginning and examine the residual.

Keywords: Capitalism; Production Surpluses; Supra-surpluses; Casino Economy; Inequality; Vita Theory; Great Recession; Subsistence; Minimum Wage; Markup; Kaleckian Power; Stagnation; Innovation; Technological Advance; Income Distribution; Wealth Distribution; Fiscal Policy; Monetary Policy; Incomes Policy; Zero-interest Rate Society; Trump; 2016 Campaign; John Kenneth Galbraith; Conventional Wisdom; Expectations; Budget Shares; Veblenian Demand; Engel's Law; Casino Effect; Economic Power (search for similar items in EconPapers)
JEL-codes: N00 (search for similar items in EconPapers)
Date: 2018
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