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theories developed during the thirties are examined in a second section, the first part focusing on Kalecki 1939’s theory based …
Persistent link: https://www.econbiz.de/10009371100
, in the Treatise on Money, and by Kalecki. However, while Keynes and Kalecki develop analyses of short period, Kaldor … studies a long period equilibrium so that the mechanism on which the adjustment is based, the flexibility of profit margins … this error shows the rate of profit depends only on the natural growth rate of the economy and on the capitalists …
Persistent link: https://www.econbiz.de/10009371102
analysis of the conception of business cycles developed by Minsky in his earliest work at the end of the 1950s. …
Persistent link: https://www.econbiz.de/10011122329
This paper considers the economic policy advocated by Keynes and Friedman in relation to their particular theoretical framework. They have in common an opposition to fine-tuning of the economy. With regard to the contrasting strategies of rules versus discretion, both would be advocates of...
Persistent link: https://www.econbiz.de/10010550865
In this paper, we put forward a neo-Kaleckian model of growth and dsitribution. We introduce two different types of public expenditure: government consumption expenditure and public provision of capital; and we study the effects on equilibrium capacity utilisation and growth. Two different cases...
Persistent link: https://www.econbiz.de/10009371097
Competition is a keyword in the works of Maurice Allais. From analytical point of view, competition, as differentiated sector with multiple enterprises under perfect competition, coexist with a non-differentiated sector with single nationalized company. Moreover, competition is not spontaneous...
Persistent link: https://www.econbiz.de/10010550868
This article underlines the restrictive perspective of the neo-keynesian research program of "microdoundations of unemployment", compared to the keynesian project of a general theory which would marginalize the classical cases. This neo-keynesian program has first restricted the interpretation...
Persistent link: https://www.econbiz.de/10005078886
This note replies to Michel De Vroey's article "The History of Economics as Seen by an HeterodoxEconomist", published in Cahiers d'economie politique nO 38. It disputes De Vroey's statement that my "heterodox" presupposition of the primacy of the wage relationship explains a presentation of...
Persistent link: https://www.econbiz.de/10005078911
This paper aims at analysing the role of uncertainty in Keynes theory of involuntary unemployment. This concept has no role in the model of Keynes resulting from the neoclassic synthesis: a result of unvoluntary unemployment equilibrium is obtained as to the violation of Walras law. Section 1...
Persistent link: https://www.econbiz.de/10004962251
is to show that Meade's model foreshadows the studies (Kalecki (1944), Tobin (1975)) which refute wage rigidity as the … Meade's model can be interpreted as a response to a critique Kalecki made in his 1936 review of the General Theory that …
Persistent link: https://www.econbiz.de/10004962267