TY  - JOUR
AB  - To many economists, not to mention all central bankers, inflation is considered to be public enemy number one. This paper seeks to understand why inflation should be so despised. To escape from simultaneous restrictions a temporal single system (TSS) approach is employed. Firstly a simple illustration of the TSS approach is considered. In order to focus on distributional issues a positive wage and a class of rentiers are built in. Rentiers hold money stocks, past accumulated value in money terms. Rentiers are assumed to lend to productive capitalists, i.e. we have finance capital. Once we build in money stocks we find that appropriate price increases can potentially hide the effect of falling exploitation of labour, transferring the cost of reduced exploitation from productive capitalists to rentiers. Finally, conclusions are drawn.
VL  - 30
IS  - 1/2
SN  - 0306-8293
DO  - 10.1108/03068290310453664
UR  - https://doi.org/10.1108/03068290310453664
AU  - Potts Nick
PY  - 2003
Y1  - 2003/01/01
TI  - Why are Kalecki's rentiers so boom tired?
T2  - International Journal of Social Economics
PB  - MCB UP Ltd
SP  - 163
EP  - 181
Y2  - 2024/09/26
ER  -