The Financial Foundations of Production and Uncertainty

Rejecting much of mainstream economic theory for being too passive, this book argues that the innovative and unpredictable nature of economic phenomena is better understood with analytical devices.

Autorentext

Andres F. Cantillo earned his M.A. and doctoral degrees from the University of Missouri-Kansas City (UMKC), and his bachelor's degree in economics from the Universidad Nacional de Colombia. He currently works as an associate professor of economics at the Kansas City Kansas Community College. Andres has also taught at Missouri State University and The University of Missouri-Kansas City. In 2009 he was awarded the G.L.S. Shackle Studentship at St. Edmund's College-Cambridge University. His list of publications includes two articles in the Journal of Post Keynesian Economics: "Shackle's Potential Surprise Function and the Formation of Expectation in a Monetary Economy" and "Production Commitments and the Financial Foundations of Specialized Economies". He is also the author of two book reviews: "G.L.S. Shackle" and "Foundations of Real World Economics", and a contributor to the Dictionary of Ecological Economics.

Inhalt

1 Introduction and plan of the work. 2 Production commitments, the structure of production and portfolio theory. 3 Production commitments and monetary theory. 4 The financial structure implicit in the Sraffa-Pasinetti framework and the intersectoral analysis of The General Theory. 5 Production commitments and the structure of production: two of the three elements of an effective language for the formation of expectations in a monetary economy. 6 Shackle's potential surprise function and the formation of expectations in a monetary economy. 7 Concluding remarks. 8 Appendix