renee.menendez · @renee_menendez
24th Apr 2014 from TwitLonger
@ProfSteveKeen @trondandresen @neilwilson
Dear Professor Keen
You are probably right. But there is one item to solve, that is the 'profit conundrum'. I know all your papers about it and you offered explanations to that problem. You got the solution with the
w = (1-s) P
formula, which has a critical assessment in
http://www.economics-ejournal.org/economics/discussionpapers/2014-3?searchterm=solving%20the%20paradox
Maybe there is some remedy for that by recognizing, that the crucial time delay is within the credit timetable and not in the surplus value theory.
According to and acknowledging your model I constructed a vensim-model to show, how sustainable profit will emerge due to some time differences in stocks. Maybe it will be possible to reformulate this as a time continuous model which is appropriate to apply within the Minsky-program!
https://dl.dropboxusercontent.com/u/63270495/simple%20circuit.jpg