1st Edition

A Macroeconomic Analysis of Profit

ISBN 9780367730581
Published December 18, 2020 by Routledge
194 Pages

USD $48.95

Prices & shipping based on shipping country


Book Description

Based on the observation of economic reality, this book provides for the foundations of a new structure of national payment systems. Specifically, to this end, a rigorous accounting for money transactions, savings, and invested profit is suggested, with a major aim to settle sustainable lending levels.

Profit lies at the heart of economic activities. Indeed, companies, from small to large, seek net gains to remunerate shareholders and to increase their assets. Yet, economists are far from sharing a common theory of profit. Using mathematical tools and a discursive approach, this book contributes to the debates in such regard, in the attempt to provide new answers to old economic issues. What is macroeconomic profit? Is there any relationship between wages, lending, and profit?

This book is an accesible resource for economists and financial experts as well as global economics students, researchers, academics and historians alike. It will challenge policy-makers and professionals and lead them on a thought-provoking journey through the realm of macroeconomics.

Table of Contents

Figures. Tables. Foreword Alvaro Cencini and Sergio Rossi. Foreword and Acknowledgments Andrea Carrera.
1 Money, Production, and Profit. Bank Money and the real economy. Banks since the industrial revolution. Interbank payments and the central bank. What room for profit?
2 Classical and Neoclassical Theories of Profit. The old quest for the surplus. Profit at the outset of the neoclassical theory. Profit and contemporary neoclassical models. The neoclassical theory of distribution.
3 Keynes and Keynesian Theories of Profit. At first, they were windfalls. The importance of profit expectations. ‘Orthodox’ versions of The General Theory. Post Keynesian Theories.
4 New Directions in the Theory of Profit. Wages and Profit Allocation. Wages and Invested Profit. Profit and Interest. Profit and Capital Growth.
5 Profit, lending, and Banking Reforms. The bugbear of the new financial crisis. The fragility of regional regulations. Challenges to Basel III. A reform of the system of national payments.
References. Name index. Subject index.

View More



Andrea Carrera is Professor of Economics at Schiller International University, Madrid campus, Spain. He has gained academic and business experience in both Europe and North America. He has lectured on and authored a number of scientific articles in economics, and he has worked for large and medium companies. Andrea holds a PhD (Switzerland) and an MPhil (Spain) in economics. He loves 20th-century history, languages, food, and hiking with good friends.