Munich Personal RePEc Archive

Concordian economics and the economic bubble

Gorga, Carmine (2016): Concordian economics and the economic bubble. Published in: Econintersect , Vol. NA, No. Daily Internet newsletter (15 August 2016): NA-NA.

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Abstract

In Concordian economics, a bubble is defined as a separation of monetary values from values of real wealth. This separation is effected by the fundamental proposition of Concordian economics: Investment is income minus hoarding. This definition, in turn, allows us to identify a set of crucial relationships that exist in the economic process, namely more hoarding, less investment and less growth; more hoarding, more inflation; more hoarding, more poverty.

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