Logo
Munich Personal RePEc Archive

Beginning, crises, and end of the money economy

Kakarot-Handtke, Egmont (2011): Beginning, crises, and end of the money economy.

This is the latest version of this item.

[thumbnail of MPRA_paper_33361.pdf]
Preview
PDF
MPRA_paper_33361.pdf

Download (303kB) | Preview

Abstract

A crisis is but a crisis when the long run outlook is definitively positive. Then a lower turning point must exist. This implicates a vision or, in the ideal case, a formalized theory of the money economy’s possible end states. This theory has to provide an endogenous explanation of end states and crises. The equilibrium approach excludes endogenous causes in principle. Thus disturbances can only be explained by exogenous random shocks. The structural axiomatic approach, that is applied in the following, consistently defines the potential systemic crisis point and the conditions of an economic happy end.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.