A simple neo-Kaleckian open-economy model is presented and its implications for growth regimes are analyzed. The present model features long-run convergence to its normal rate of capacity utilization, which is conditionally achieved by incorporating the Harrodian principle of instability and...

This paper incorporates the role of an independently growing autonomous demand component into a neo-Kaleckian model of growth and distribution where the distribution of income reacts to changes in the employment rate. A peculiar feature of these autonomous expenditures is that in contrast to...

One of the most notable features of income distribution is the widening wage differential among workers: there is a redistribution in favor of top management at the detriment of ordinary workers. The paper incorporates this distinction between overhead managerial labour and direct labour into a...