I promised media I would post a flow diagram so here is it, ugly (and provisional) as it may be.

Conversely, the purple arrows running counter-clockwise indicate the flow for the traditional Economic Man model(EM). These start (hypothetically) at Investment/accumulation (the order of priority reversed) and proceed through Production, Consumption/income and back to Accumulation. In this direction of flow, leisure or disposable time is conceived of as a subtraction from the flow.
*As media suggested, such a chart may be thought of as representing a two-way flow, with elements of either Pp or EM coming into play depending on the circumstances. That two-way flow could obviate the need for an arrow leading back into consumption (or production) from the superfluous consumption node.
2 comments:
Is this an economist variation on Abbott & Costello's "Who's on first?"
If it is then "Id gratification" is the answer for left field.
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