Definition & Reality in the General Theory of Political Economy

The symbol ° is used to indicate market clearing equilibrium (and possibly expectational). The symbol * or E[.]is used for expectations and expectational equilibrium (and possib...

The basic idea of this book is that Keynes’s _General Theory_ is generalised even further by including endogenous government in the model so that we arrive at a truly general Po...

Montesquieu published his _De l’Esprit des Lois_ in 1748. An English translation can be found on the internet, and a short biographical note, taken from there, has been included...

In ‘economics as usual’ we neglect the World Wars and concentrate on the current problem of stagflation. This book then also provides a novel explanation in this area - novel in...

In March / April 1996 I put two presentations for the general public in the Economics Working Papers archive at the Washington University at St. Louis. In August 1998 there was...

At the Dutch Central Planning Bureau, I helped making the Athena model (CPB (1990)) with its 7000 variables. I had this model at my computer and could let it do tricks like an o...

appreciate the point of reference of ‘existing economics’. Chapter 24 clarifies heterogeneity and nonlinear taxation. There is nothing new here yet either. The subsequent chapte...

here is the assumption of a constant macro-economic progression factor. This factor is the elasticity of tax revenue with respect to income (Koopmans (1975:103)), thus _mepf = (...

Phillipscurve, and for example pointed to Graaflands c.s. derivation from a Nash maximising framework. In this chapter we take that possible development for granted, and concent...

x_) with exemption _x _and marginal rate _r. _This function is linear but already results into nonproportional taxes. Governments in practice have nonlinear tax schemes that giv...

gives plots for regular numerical values. It appears that indexation and expectations about the growth of national income (relevant for indexation) again lead to other results t...

Kenneth Arrow (1950, 1951, 1963) presented an Impossibility Theorem in which he showed that decisions about ‘the general welfare’ are impossible in certain cases or have to be l...

It has been a cause of wonder for the present author why other economists are not more outspoken on the Tax Void, and why above theorem on the possibility of returning to full e...

Above we noted that the structural form of western welfare states is quite complicated. We would like to have a more enduring result than awareness of complexity, and therefor w...

welfare state. Chapter 34 showed that social choice is feasible, in the sense that there are consistent and reasonable constitutions that society might deem attractive. In parti...

Some of the conclusions can be best understood in relation to the work of others. There are two sets of authors: those who take a general position and those who concentrate on t...

(1) “High marginal effective tax rates associated with the phase-out range of the benefit give rise to disincentives to increase earned income beyond a certain limit.” (p55). Th...

[3] An example is the debate between Heilbroner and Dasgupta, see P. Dasgupta (1998). Heilbroner regards ‘economics’ as Political Economy only, and hence neglects the other fiel...