This paper examines the relationship between inequality and growth in the neo-Kaleckian and Cambridge growth models. The paper explores the channels whereby functional and personal income distribution impact growth. The growth - inequality relationship can be negative or positive, depending on...

This paper examines the effects of managerial pay on the Post Keynesian model of growth and distribution. Introducing managerial pay explains why economies may exhibit both wage- and profit-led characteristics in response to changed income distribution. Second, managerial pay undoes Pasinetti's...

This paper examines the relationship between inequality and growth in the neo-Kaleckian and Cambridge growth models. The paper explores the channels whereby functional and personal income distribution impact growth. The growth - inequality relationship can be negative or positive, depending on...

This paper examines the effects of managerial pay on the Post Keynesian model of growth and distribution. Introducing managerial pay explains why economies may exhibit both wage- and profit-led characteristics in response to changed incomedistribution. Second, managerial pay undoes Pasinetti's...

This paper examines the effects of managerial pay on the Post Keynesian model of growth and distribution. Introducing managerial pay explains why economies may exhibit both wage- and profit-led characteristics in response to changed income distribution. Second, managerial pay undoes Pasinetti's...

This paper compares Cambridge and neo-Kaleckian growth theory. Both are members of the post-Keynesian approach to growth and distribution, but the Cambridge model is a hybrid of Keynesian and classical features whereas the neo-Kaleckian model is Keynesian. The Cambridge approach assumes full...

I thank Tom Michl for his insightful and gracious note (Michl 2013) pointing out a mistake in my paper (Palley 2013a) on fiscal policy in post-Keynesian economics. Despite correctly deriving the analytic condition (ibid., p. 85, footnote 6), I incorrectly drew the IS-ZZ diagram in figure 2,...

This paper presents a three class growth model with labor market conflict. The classes are workers, a middle management middle class, and a "top" management capitalist class. The model introduces personal income distribution that supplements conventional concerns with functional income...

The distinction between wage-led and profit-led growth is a major feature of Post-Keynesian economics and it has triggered an extensive econometric literature aimed at identifying whether economies are wage or profit-led. That literature treats the economy's character as exogenously given. This...

This paper presents a three class growth model with labor market conflict. The classes are workers, a middle management middle class, and a "top" management capitalist class. The model introduces personal income distribution that supplements conventional concerns with functional income...