In this chapter we shall provide one final important example of how the “proper” Keynesian prototype model of monetary growth of this book, the working model of the preceding chapter, can be further improved and can give rise to considerably more refined adjustment processes on the macro level, here specifically with respect to the labor market (outside and inside the firm), long-run employment and long-run growth. We shall then close this chapter with a brief summary of what we have achieved in this book and what has still to be done by enumerating the weaknesses, gaps and shortcomings that remain in our modeling of a Keynesian monetary growth model. As will be obvious from this list, it is not possible to remove these shortcomings of our working model in a single book, or even in one further book.

Instead, we will concentrate in this final chapter on one important problematic characteristic which our working model still exhibits concerning the exogeneity of the full employment rate of employment V̄ and the natural rate of growth n of the economy. Furthermore, we refine the adjustment processes on the labor market and endogenize the trend component in the investment function, thereby in sum allowing for an endogenous determination of the steady-state rate of growth as well as the steady-state rate of (un)employment.