Money, Distribution Conflict and Capital Accumulation

ECKHARD HEIN is Senior Researcher at the Macroeconomic Policy Institute (IMK) at Hans Boeckler Foundation, Duesseldorf, Germany, and Visiting Professor at Carl von Ossietzky University Oldenburg, Germany, and Vienna University of Economics and Business Administration, Austria.

• Foreword; P.Arestis Introduction PART I: REAL AND MONETARY ANALYSIS IN ECONOMIC PARADIGMS Real and Monetary Analysis in Economic Paradigms: Introduction Real Analysis in Classical, Neoclassical, Neoclassical Synthesis, Monetarist, New Classical, New Keynesian, and New Consensus Theories Monetary Analysis in Classical Economics: Banking School and Neo-Ricardian Monetary Theory of Distribution Monetary Analysis in Marx's Economics Keynes's 'Monetary Theory of Production' and the Post-Keynesian Research Programme Real and Monetary Analysis in Economic Paradigms: Summary and Implications for the Analysis of Monetary Policy, Distribution and Capital Accumulation PART II: INTEREST RATE, DISTRIBUTION AND CAPITAL ACCUMULATION - POST-KEYNESIAN MODELS Interest Rate, Distribution and Capital Accumulation - Post-Keynesian Models: Introduction Post-Keynesian Monetary Theory and the Models of Distribution and Growth The Model Economy The Rate of Interest in the Kaldor-Robinson-model of Distribution and Growth The Rate of Interest in Kaleckian Models of Distribution and Growth Kaleckian Models Extended Interest Rate, Distribution and Accumulation in Post-Keynesian Models: Summary and Conclusions PART III: DISTRIBUTION CONFLICT, INFLATION AND MONETARY POLICY IN A CREDIT ECONOMY Distribution Conflict, Inflation and Monetary Policy in a Credit Economy: Introduction A Kaleckian Alternative to the New Consensus on Monetary Policy and Wage Bargaining: Trying to Make Sense of the NAIRU On the (In-)stability and the Endogeneity of the Normal Rate of Capacity Utilisation in a Post-Keynesian/Kaleckian 'Monetary' Distribution and Growth Model Summary and Conclusions