A Macroeconomic Condition of Class Society

Tetsuya Nakajima ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper clarifies a macroeconomic condition, under which households are divided between a working class and an asset-owner class. Constructing a Keynesian model, we find that if aggregate savings from profits exceed aggregate investment, workers cannot accumulate their assets, and consequently a class society is established.

Keywords: Effective Demand; Keynesian; Employment Rate; Underemployment; Wage Share; Working Class (search for similar items in EconPapers)
JEL-codes: E12 E24 E25 (search for similar items in EconPapers)
Date: 2018-12
New Economics Papers: this item is included in nep-mac and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:90785

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