Profit als Rente. Anmerkungen zu einer pro-kapitalistischen Entwicklungstheorie

Profit as rent: Some remarks about a pro-capitalist theory of development

Georg Quaas

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Global Keynesianism; rent-seeking; mass consumption; comparative cost advantages (search for similar items in EconPapers)
JEL-codes: E12 E24 F11 (search for similar items in EconPapers)
Date: 2014-03, Revised 2014-05
New Economics Papers: this item is included in nep-hme and nep-mac
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