Fundamentals of Economic Analysis: A Causal-Realist Approach

6. Profit, Loss, and the Entrepreneur


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Causal-realist analysis allows imaginary constructs like the ERE — Evenly Rotating Economy — in order to isolate certain factors like interest.  There would be no profit or loss in the ERE, because those can only exist under conditions of uncertainty.
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Fundamentals of Economic Analysis: A Causal-Realist ApproachBy Joseph T. Salerno

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