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Money, Distribution and Economic Policy
Alternatives to Orthodox Macroeconomics
- New Directions in Modern Economics series
Edited by Eckhard Hein and Achim Truger
Money, Distribution and Economic Policy takes issue with the inappropriate treatment of money, effective demand and distribution issues in modern mainstream macroeconomics. It presents contributions which are critical of modern orthodoxy and which explore alternative approaches to macroeconomics and economic policy analysis. The contributors explore the following areas:
• the development of heterodox theory
• the role of money in macroeconomics
• the relationship between distribution and aggregate demand
• macroeconomic policy issues from a broader heterodox perspective.
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Chapter 5: What Drives Profits? An Income-spending Model
Olivier Giovannoni and Alain Parguez
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