The full employment interest rate implicit in classical economic theory

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dc.contributor.authorCole, Nicolas D
dc.date.accessioned2022-12-06T13:56:39Z
dc.date.available2022-12-06T13:56:39Z
dc.date.issued2022-06-29
dc.description.abstractBy including the rate of normal profit in a simple model of the macro-economy, the full employment interest rate is deduced to be 4½% at which Labor is not exploited by Capital. Criticisms by Marx and Keynes of the free-market economy were misdirected at Classical theory instead of the manipulation of interest rates by Central Banks to favour Capital over Labor.en_UK
dc.identifier.citationCole, Nicolas D (2022). The full employment interest rate implicit in classical economic theory, Evolutionary and Institutional Economics Review, Volume: 19, Issue: 2, pp. 625-643en_UK
dc.identifier.eissn2188-2096
dc.identifier.urihttps://doi.org/10.1007/s40844-022-00244-6
dc.identifier.urihttps://dspace.lib.cranfield.ac.uk/handle/1826/18759
dc.language.isoenen_UK
dc.publisherSpringeren_UK
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectRate of Normal Profiten_UK
dc.subjectClassical Theoryen_UK
dc.subjectCentral Banksen_UK
dc.subjectFull Employment Interest Rateen_UK
dc.titleThe full employment interest rate implicit in classical economic theoryen_UK
dc.typeArticleen_UK

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