The figure displays a version of a well-known circular money flow diagram used in economics textbooks. In simplified form, households own capital and labor, which they sell to businesses, who use it ...

The American Economist, Vol. 64, No. 1 (March 2019), pp. 45-59 (15 pages) Closed-system circular flow models have been ubiquitous in economics for at least half a century. Because these models account ...

Mathias Binswanger, Is there a Growth Imperative in Capitalist Economies? A Circular Flow Perspective, Journal of Post Keynesian Economics, Vol. 31, No. 4 (Summer, 2009), pp. 707-727 ...