Cole, Nicolas D2022-12-062022-12-062022-06-29Cole, Nicolas D (2022). The full employment interest rate implicit in classical economic theory, Evolutionary and Institutional Economics Review, Volume: 19, Issue: 2, pp. 625-643https://doi.org/10.1007/s40844-022-00244-6https://dspace.lib.cranfield.ac.uk/handle/1826/18759By including the rate of normal profit in a simple model of the macro-economy, the full employment interest rate is deduced to be 4½% at which Labor is not exploited by Capital. Criticisms by Marx and Keynes of the free-market economy were misdirected at Classical theory instead of the manipulation of interest rates by Central Banks to favour Capital over Labor.enAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/Rate of Normal ProfitClassical TheoryCentral BanksFull Employment Interest RateArticle2188-2096