The Original Construction of Lonergan’s Exchange Structure Model

Michael Shute

Abstract


An interpretation of Bernard Lonergan's argument for the Exchange Structure Model as it was originally constructed in "For a New Political Economy." The text reveals the steps whereby Lonergan established a fully dynamic foundation for macroeconomics. The author argues that Lonergan's two-circuit approach offers a paradigm shift in the procedures of economic modeling.

Keywords


economic exchange structure models, marcoeconomic dynamics. Lonergan' economics

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