LEADER 06374nam 2200469Ia 450 001 9910855200903321 005 20240602123719.0 010 $a9783839472781 010 $a3839472784 024 7 $a10.1515/9783839472781 035 $a(CKB)32140507400041 035 $a(DE-B1597)688487 035 $a(DE-B1597)9783839472781 035 $a(ScCtBLL)8aa0f229-aba9-41a9-89a0-57a4ee50cb15 035 $a(EXLCZ)9932140507400041 100 $a20240602h20242024 fg 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 14$aThe Capitalist Economy and its Prosthetics $eNecessity, Evolution and Dilemmas of a Brotherhood /$fGerhard H. Wächter 210 1$aBielefeld : $ctranscript Verlag, $d[2024] 210 4$d©2024 215 $a1 online resource (532 p.) 225 0 $aEdition transcript ;$v13 327 $tFrontmatter -- $tContents -- $tForeword -- $tPart I: Introduction to elementary economics of profit economies -- $tChapter I. Praeter-Economics: Wealth procurement by violence -- $tChapter II. Value, money and the economic system -- $tSection 1. Value and value attribution -- $tSection 2. Money and money creation -- $tSection 3. The economic system -- $tChapter III. Wealth procurement by exchange -- $tSection 1. Consumptive and investive spending: C?M?C? and M?C?M? -- $tSection 2. The productive and the sterile economy -- $tSection 3. A tableau économique of modern capitalism -- $tSection 4. An original assembly -- $tPart II: Ancient capitalism, the ascent of ancient prosthetics and their dilemmas -- $tChapter IV. Primitive society, civilization and the ancient master drama -- $tSection 1. Goods procurement in primitive society -- $tSection 2. Primitive society and civilization -- $tSection 3. The master drama of ancient capitalism: Land for peasants -- $tChapter V. Conservative-restorative policies and prosthetics in ancient capitalism -- $tSection 1. Conservative-restorative policies and prosthetics in ancient Greece -- $tSection 2. Conservative-restorative policies and prosthetics in ancient Rome -- $tSection 3. China: A glance at 2000 years of East-Eurasian ancient master drama -- $tSection 4. The failure of conservatism/restoration, ancient prosthetics and their dilemmas -- $tPart III: The deficiency of employment-generating spending in modern capitalism -- $tChapter VI. The master drama of modern capitalism: Employment for workers -- $tChapter VII. The structural deficiency of employmentgenerating spending in modern capitalism -- $tSection 1. Circuit closure analysis -- $tSection 2. Quesnay?s dépenses-integrated ?royaume agricole? -- $tSection 3. Smith: An invisible hand over suppliers and customers -- $tSection 4. Proudhon and Sismondi: Producers cannot buy their produce -- $tSection 5. Malthus: Costs cannot buy value -- $tSection 6. What Say said and Ricardo?s Law of Say -- $tSection 7. Marx?s insufficient theory on insufficient employmentgenerating spending -- $tSection 8. Keynes: Firms? deficient employment-generating spending as deficient remedy for consumers? deficient employment-generating spending -- $tSection 9. Kalecki: Only capitalists can save capitalists -- $tSection 10. Minsky: Liquidity and firms? employment-generating spending -- $tChapter VIII. The deficient-producive-spendingsyndrome -- $tSection 1. A merely abstract possibility of circuit closure in capitalism -- $tSection 2. The drain of wealth out of the productive economy -- $tSection 3. The deficient-producive-spending-syndrome -- $tSection 4. Secondary dynamics and the deficient-producive-spendingsyndrome -- $tPart IV: The prosthetics of modern capitalism and their dilemmas -- $tChapter IX. Redistributive and expansive prosthetics -- $tChapter X. Redistributive prosthetics funded without money creation -- $tSection 1. Redistributive prosthetics funded with domestic taxation and expropriations -- $tSection 2. Redistributive prosthetics funded with war, external violent wealth procurement and protectionism -- $tSection 3. Redistributive prosthetics funded with redistributive debt -- $tChapter XI. Expansive prosthetics funded with money creation in commodity money regimes -- $tSection 1. Expansive prosthetics funded with commodity money creation -- $tSection 2. Expansive prosthetics funded with merchant credit money creation -- $tSection 3. Expansive prosthetics funded with private bank credit money creation -- $tChapter XII. Expansive prosthetics funded with money creation in state fiat money regimes -- $tSection 1. From commodity money regimes to state fiat money regimes -- $tSection 2. State fiat money creation aside private bank credit money creation -- $tSection 3. Expansive prosthetics funded with private bank credit money creation -- $tSection 4. Expansive prosthetics funded with state fiat money creation -- $tChapter XIII. The dilemmas of the prosthetics of modern capitalism -- $tAfterword: An outlook in questions and answers -- $tAppendix -- $tConventions -- $tList of Figures -- $tReferences 330 $aNotwithstanding its ruthless dynamics, the capitalist economy has the flaw of deficient employment-generating spending. This leads to unemployment of non-owners, individual suffering, social unrest and it undermines military strength. To deal with these issues, states use prosthetic policies, artificial transfers to the productive economy and to non-owners. But the funding of such prosthetic policies - through violent wealth appropriation abroad, protectionism, war, domestic expropriation and taxation, debt and money creation - is caught in dilemmas, while politicians are caught between non-solutions. According to Gerhard H. Wächter, the history of capitalist society is largely the history of this dilemmatic brotherhood. 606 $aCapitalism 606 $aDeficit financing 606 $aSOCIAL SCIENCE / Sociology / General$2bisacsh 615 0$aCapitalism. 615 0$aDeficit financing. 615 7$aSOCIAL SCIENCE / Sociology / General. 676 $a330.12/2 700 $aWächter$b Gerhard H., $4aut$4http://id.loc.gov/vocabulary/relators/aut$01776431 801 0$bDE-B1597 801 1$bDE-B1597 906 $aBOOK 912 $a9910855200903321 996 $aThe Capitalist Economy and its Prosthetics$94293505 997 $aUNINA