By Adolfo Figueroa
Centuries of financial progress have proven that the capitalist process is
technologically very revolutionary; socially, even if, it's not so. Inequality is one in every of the
persistent positive aspects of worldwide capitalism. Why does the capitalist method function in this
The present paradigm in economics has made major growth in explaining
capitalism; notwithstanding, there are a few evidence that the paradigm can't clarify, because it will be
shown during this e-book. the present paradigm could be outlined because the ideas that are
contained within the college textbooks which are utilized in economics classes round the
world; for that reason, its impression on public rules is big. these rules are
based on neoclassical and Keynesian financial theories, one for the long term and the
other for the quick run research of capitalism. either theories might be known as standard
economics during this book.
This booklet provides a brand new fiscal conception of the capitalist process. This new
theory may be in a position to clarify the evidence that normal monetary may also clarify; yet it
will additionally clarify these evidence that ordinary economics cannot.
In order to introduce the reader to this new view progressively, the rules of
the new concept should be awarded step-by-step during this creation. This creation may
then be obvious because the synopsis of a play concerning the nature of social relatives in a capitalist
society, in order to then be constructed absolutely within the book.
Adolfo Figueroa, a Peruvian economist …has written a breathtakingly bold book.
Physics continues to be suffering to combine in one unified conception the insights of general
relativity and quantum idea. Figueroa goals not just to construct partial versions able of
explaining diversified elements of the capitalist procedure, but additionally a unified version from which
each of those distinct instances could be derived. The reader must be very
blinkered to not agree that Figueroa is directly to whatever very important. Figueroa merits to
be learn, and in an awesome global this ebook could develop into required analyzing for economics
students in the course of the international.
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Extra resources for A Unified Theory of Capitalist Development (Enlarged and Revised Edition)
The theory is refuted by this fact. However, if empirically the diagonals are equal, we cannot conclude that F is a square (it could be a rectangle). Truth is much harder to establish in science. As this example shows, a theory can only be corroborated by facts; it cannot be verified, proven to be true. The latter implies consistency with fact by necessary and sufficient conditions, the former by necessary conditions only. Which particular assumptions are responsible for the failure of a theory?
Theory constitutes an abstraction of reality. If there is no theory, there is no scientific knowledge. The theory needs empirical confrontation against reality. The prior set of assumptions needs posterior validity. The reason is that the assumptions were arbitrarily established. If in this confrontation theory and reality are inconsistent, theory fails, not reality; that is, the arbitrary selection of the set of assumptions is proved to be wrong. Thus the particular assumption responsible for the failure is not identifiable.
36 In the economic process, the notion of equilibrium may refer to a static process or a dynamic process. In the first case, the model assumes that the relationships among endogenous variables are contemporaneous, whereas in the dynamic process some or all are inter-temporal. Firstly, consider a static process. Static equilibrium implies the repetition of the same values of the endogenous variables, period after period, as long as the values of the exogenous variables remain constant. Static equilibrium may be stable or unstable.