Endogenous constraints on full productive capacity in a free-market economy
| dc.contributor.author | Cole, Nicolas D | |
| dc.date.accessioned | 2023-04-12T09:20:25Z | |
| dc.date.available | 2023-04-12T09:20:25Z | |
| dc.date.embargo | 2023-04-07 | |
| dc.date.issued | 2023-04-07 | |
| dc.description.abstract | The 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.citation | Cole, Nicolas D (2023). Endogenous constraints on full productive capacity in a free-market economy. Evolutionary and Institutional Economics Review. | en_UK |
| dc.identifier.uri | https://doi.org/10.1007/s40844-023-00254-y | |
| dc.identifier.uri | https://dspace.lib.cranfield.ac.uk/handle/1826/19439 | |
| dc.language.iso | en | en_UK |
| dc.publisher | Springer | en_UK |
| dc.rights | Attribution- 4.0 International | * |
| dc.rights.uri | https://creativecommons.org/licenses/by/4.0/ | * |
| dc.subject | Full Employment Interest Rate | en_UK |
| dc.subject | Productive capacity | en_UK |
| dc.subject | Free market | en_UK |
| dc.title | Endogenous constraints on full productive capacity in a free-market economy | en_UK |
| dc.type | Article | en_UK |