The Capitalist Economy and its Prosthetics : Necessity, Evolution and Dilemmas of a Brotherhood / Gerhard H. Wächter.

Format:

Book

Author/Creator:

Wächter, Gerhard H., author.

Series:

Edition Transcript Series

Language:

English

Subjects (All):

Social sciences.

Physical Description:

1 online resource.

Edition:

1 ed.

Place of Publication:

Bielefeld : transcript Verlag, 2024.

Summary:

Notwithstanding its ruthless dynamics, the capitalist economy has the flaw of deficient employment-generating spending. This leads to unemployment of non-owners, individual suffering, social unrest and it undermines military strength. To deal with these issues, states use prosthetic policies, artificial transfers to the productive economy and to non-owners. But the funding of such prosthetic policies - through violent wealth appropriation abroad, protectionism, war, domestic expropriation and taxation, debt and money creation - is caught in dilemmas, while politicians are caught between non-solutions. According to Gerhard H. Wächter, the history of capitalist society is largely the history of this dilemmatic brotherhood.

Contents:

Cover

Contents

Foreword

A deep‐level and long‐term understanding of capitalist society

The theoretical approach of this book and mainstreams’ economics

Marx and other predecessors, truisms, banalities, centaurs and pans in economics

Productive and sterile economy

Deficient producive spending

Prosthetics, their evolution and dilemmas

Money creation vs no money creation, fiat money vs commodity money

Novelty in this book

Credentials

Part I: Introduction to elementary economics of profit economies

Chapter I. Praeter‐Economics: Wealth procurement by violence

Chapter II. Value, money and the economic system

Section 1. Value and value attribution

Value‐in‐use‐attribution

Use‐relatedness of objects

Subject‐relatedness and the systemic character of values‐in‐use

The state and time horizons for values‐in‐use

Value‐in‐exchange‐attribution

The state, owner power, and value‐in‐exchange

Theory of value and theory of “deal‐making” and pricing

(Monomial) theory of value: Seller’s value, buyer’s value and bystander’s value

(Binomial) theory of deal‐making and pricing

Nominalism and reflexivity in the theory of value‐in‐exchange

Attribution of value‐in‐exchange and “esoteric”, “effectual”, and “effective” demand

Merchant heroes and trade systems

The pacegeneticity and bellogeneticity of trade systems Generated by AI.

Notes:

CC BY-NC-ND

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Part of the metadata in this record was created by AI, based on the text of the resource.

Description based on publisher supplied metadata and other sources.

ISBN:

9783732872787

3732872785

OCLC:

1435710490