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A response to Duncan's question in OPE-L:3160,
"I gather from the fact that you don't mention money capital in the
assumptions of your example that you assume that it turns over infinitely
fast?"
*Something* like that. I'm just trying to focus on the "effective
demand" problem, and I think it is simplest at first to exclude
complicating things like technical change and stocks, including money
stocks. Paul, pretty much like Rosa, regards the question of "where the
money comes from" as subsidiary to and in fact a distraction from the
main issue, namely "where the money comes from."
My exact assumption is that supplies are "realized" immediately.
Together with the other assumptions, this eliminates the need for stocks
of money, because supplies are creating their own demands.
Ciao,
Andrew Kliman
This archive was generated by hypermail 2b29 : Wed May 31 2000 - 00:00:09 EDT