An Analysis of Three Inflection on Four Economic Phases in the Thetical Economics and the Antithetical Economics

Abstract

In this article, we describe Kinoshita’s macroeconomic scheme that is Thetical economics and Antithetical economics on four economic phases. Especially, we focus on transitions among the phases. Four economic phases are Thetical economy, Bubble economy, Bubble collapse economy, and Antithetical economy. We give important roles in the description to bubbles. Occurrence and collapse of bubble cause the transitions of economic phases. So explanations of detailed mechanisms of the bubbles are in the article. We try to show them by varying of the consumption propensity.