Endogenous constraints on full productive capacity in a free-market economy

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dc.contributor.authorCole, Nicolas D
dc.date.accessioned2023-04-12T09:20:25Z
dc.date.available2023-04-12T09:20:25Z
dc.date.embargo2023-04-07
dc.date.issued2023-04-07
dc.description.abstractThe full employment interest rate implicit in classical economic theory is 4½%, deduced by including the rate of normal profit in a simple macroeconomic model. By not fixing the interest rate at this optimum, Central Banks endogenously maintain excess productive capacity, cause unemployment, and encourage the exploitation of Labour by Capital.en_UK
dc.identifier.citationCole, Nicolas D (2023). Endogenous constraints on full productive capacity in a free-market economy. Evolutionary and Institutional Economics Review.en_UK
dc.identifier.urihttps://doi.org/10.1007/s40844-023-00254-y
dc.identifier.uri https://dspace.lib.cranfield.ac.uk/handle/1826/19439
dc.language.isoenen_UK
dc.publisherSpringeren_UK
dc.rightsAttribution- 4.0 International*
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/*
dc.subjectFull Employment Interest Rateen_UK
dc.subjectProductive capacityen_UK
dc.subjectFree marketen_UK
dc.titleEndogenous constraints on full productive capacity in a free-market economyen_UK
dc.typeArticleen_UK

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