ABSTRACT

According to the dichotomic conception of money, inflation and unemployment are either “real phenomena” or “monetary phenomena”, one could almost say at the choice of theorists. The discovery of the quantum nature of every act of production within the nation brings much more than hope: it logically leads to the solution, the unravelling of inflation and unemployment. Net investment is the first serious case of an empty emission. However, money issued in the investment of profit finally finds a “body” in the wage-goods saved during the formation of the monetary profit. Since fixed capital is withdrawn from income holders, its amortization causes the “dual” production of profit-goods. Empty wages have no purchasing power. The amortization of fixed capital engenders an empty money which, in advanced capitalism, is finally equal to a third of the total industrial production.