The Original Construction of Lonergan’s Exchange Structure Model

Authors

  • Michael Shute Memorial University of Newfoundland

Keywords:

economic exchange structure models, marcoeconomic dynamics. Lonergan' economics

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.

Author Biography

Michael Shute, Memorial University of Newfoundland

Dr. Michael Shute is an Associate Professor in the Department of Religious Studies at Memorial University of Newfoundland.he recently published Lonergan Discovery of the Science of Economics (2010) and Lonergan Early Economic Research (2010)

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Published

2011-03-22

Issue

Vol. 5 (2010): Functional Specialization and Economics

Section

Articles