Inflation, Unemployment and Capital Malformations

The volume discusses the main problems of capitalist economies, inflation and unemployment, in a new and original way and provides the theoretical foundations for quantum macroeconomic analysis. It aims to provide English-speaking economists and interested readers with a direct access to the analysis provided by Schmitt in his 1984 book. Schmitt's book offers a revolutionary explanation of the cause of today's economic disorder and an innovative solution to transition from disorder to order. It develops a new analysis based on identities rather than conditions of equilibrium, capable of explaining the objective origins of inflation and unemployment. The topics analyzed by Schmitt cover the entire field of national macroeconomics, with the theory of emissions playing a central role.

Format: Paperback / softback
Length: 440 pages
Publication date: 24 June 2021
Publisher: Routledge

The book delves into the core challenges confronting capitalist economies, specifically inflation and unemployment, in a novel and groundbreaking manner. It establishes the theoretical framework for quantum macroeconomic analysis, offering English-speaking economists and interested readers direct access to the insights presented in Schmitt's 1984 book, "Inflation, chômage et malformations du capital."

Orthodox economics has struggled to provide a coherent understanding of the pathologies hindering our economies, and both the academic and economic communities urgently require an alternative approach capable of explaining the origins of these pathologies and proposing effective solutions.

Schmitt's volume presents a revolutionary explanation of the root causes of today's economic disorder, as well as an innovative solution that enables a transition from disorder to order. Neoclassical and Keynesian theories, regardless of their variations, are fundamentally rooted in equilibrium analysis, which explains why none of them has successfully provided a consistent macroeconomic analysis based on robust macroeconomic foundations.

This is precisely what Schmitt's book aims to achieve: the development of a new analysis based on identities rather than equilibrium conditions, capable of elucidating the objective origins of inflation and unemployment.

Within this volume, Schmitt introduces a novel concept of quantum time, which serves as the focal point of his analysis. The topics examined by Schmitt encompass the entirety of national macroeconomics, ranging from production to capital accumulation. The theory of emissions plays a central role in this groundbreaking investigation, providing a fresh perspective on these economic phenomena.

The resulting macroeconomic theory is constructed upon a set of laws derived from the monetary nature of our economic systems, establishing the logical framework for inquiry into these critical economic issues. By adopting a quantum time perspective, Schmitt offers a transformative approach to understanding the dynamics of capitalist economies, shedding light on the underlying mechanisms that drive inflation, unemployment, and other economic challenges.

This book is a valuable resource for economists, policymakers, and scholars seeking to deepen their understanding of macroeconomic dynamics and explore new avenues for addressing economic disorders. It challenges conventional thinking and provides a fresh perspective on the complex issues facing modern economies, offering a path toward a more stable and prosperous future.

Weight: 612g
Dimension: 234 x 156 x 23 (mm)
ISBN-13: 9781032007038