logging in or signing up Morphing into Concordian economics, 2010 cgorga Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINTLite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: Embed: Flash iPad Copy Does not support media & animations WordPress Embed Customize Embed URL: Copy Thumbnail: Copy The presentation is successfully added In Your Favorites. Views: 34 Category: Science & Tech.. License: All Rights Reserved Like it (0) Dislike it (0) Added: May 06, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Concordian Economics: Concordian Economics On the transformation of the “dismal science” of economics into The Economics of JUBILATION by Carmine GorgaKeynes’ Model: Keynes’ Model Income = Consumption + Investment Saving = Income – Consumption Saving = InvestmentMainstream Economics: Mainstream Economics Does not respect principles of IDENTITY NON-CONTRADICTION EQUIVALENCEClassical and Neoclassical Analysis: Classical and Neoclassical Analysis A BLACK BOX D S E Price Quantity E = equilibrium and exchangePivoting Keynes’ Model: Pivoting Keynes’ Model Y = C + I S = Y - C S = IFlows Model: Flows Model Income = Consumption + Saving (H) Investment = Income – Saving (H) Investment = Consumption H = Hoarding Parable of Talents: Parable of Talents Investment equals Income minus HoardingParable of Talents: Parable of Talents 0% Investment 100% Hoarding More hoarding, less growth More hoarding, more inflation More hoarding, more povertyInvestment = Consumption: Investment = Consumption Investment is only and always investment Consumption is only and always consumption Investment is production of real wealth Consumption is expenditure of money Investment is equivalent to ConsumptionAn Equivalence: An Equivalence The Economic System is observed from Three Points of View PRODUCTION or real wealth DISTRIBUTION of ownership rights CONSUMPTION of monetary wealth Production Process: Production Process P = CG + KG + GH KG = P – (GH + CG) KG = OKG P = Production of real wealth CG = Consumer Goods KG = Capital Goods GH = Goods Hoarded OKG = Ownership of capital goods Distribution Process: Distribution Process D = OCG + OKG + OGH OKG = D – (OGH + OCG) OKG = I D = Distribution of ownership rights OCG = Ownership of Consumer Goods OKG = Ownership of Capital Goods OGH = Ownership of Goods Hoarded Consumption Process: Consumption Process C = Eh + E I = C – Eh I = E Eh = money reserved for Hoarding-Expenditure E = money reserved for Expenditure (on consumer goods and capital goods) General Synthetic Model: General Synthetic Model p· = fp(p,d,c) d· = fd(p,d,c) c· = fc(p,d,c) p· = rate of change in total production d· = rate of change in distribution of ownership rights c· = rate of change in total expenditure General Analytic Model: General Analytic Model p· = f(r,d,mec) d· = f(YL,rW,R), c· = f(w,d,m) r = rate of interest; d = existing distribution mec = marginal efficiency of capital YL = labor income; rW = capital income R = rent; w = real wealth m = monetary wealth Disaggregating AS: Disaggregating AS A Poincaré section of production process CG KG GH CG = Consumer goods KG = Capital goods GH = Goods hoardedDisaggregating ADO: Disaggregating ADO A Poincaré section of distribution process % owning majority of assets % owning remainder of assets % owning only debtDisaggregating AD: Disaggregating AD A Poincaré section of consumption process ECG EKG EGH E = expenditure on consumer goods (CG), capital goods (KG), and goods hoarded (GH)Flows of Values: Flows of ValuesStrange Attractor: Strange AttractorThe Bubble: The Bubble MW = Monetary Wealth RW = Real Wealth DO = Pattern of Distribution of Ownership RightsTheory ofEconomic Justice: Theory of Economic Justice Participative Justice Commutative Justice Distributive justiceEconomic Rightsand Economic Responsibilities: Economic Rights and Economic Responsibilities Toward Common Goods We all have the right of access to natural resources—and the responsibility to pay taxes for the exclusive use of those resources; We all have the right of access to national credit—and the responsibility to repay loans obtained on the basis of national credit; Economic Rightsand Economic Responsibilities: Economic Rights and Economic Responsibilities Toward Private Goods We all have the right to the fruits of our labor—and the responsibility to offer services equal to the value of our compensation; We all have the right to protect our wealth—and the responsibility to respect the wealth of others. You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.