March 30, 2015

Black holes and white noise

Comment on ‘What’s inside the neoliberal mind? Part 2 — Marketfundamentalist Marxism, kind of’

Blog-Reference

Inside the neoliberal mind is the same strange thing as in the marxist mind: a scientific black hole. Constructive Heterodoxy has rigorously demonstrated that both approaches lack the correct profit theory (2015b) and as a matter of logical consequence the correct employment theory (2015a). Employment for the investment economy is given here.

The employment equation says that there is a central defect in the market system, viz. there is positive feedback between wage rate and employment. This explains the greater part of rampant unemployment.

Not much more than rhetorical white noise evaporates from neoliberal or marxist black holes.

Egmont Kakarot-Handtke


References
Kakarot-Handtke, E. (2015a). Essentials of Constructive Heterodoxy: Employment. SSRN Working Paper Series, 2576867: 1–11. URL
Kakarot-Handtke, E. (2015b). Essentials of Constructive Heterodoxy: Profit. SSRN Working Paper Series, 2575110: 1–18. URL