Growth and Distribution have become one of the main instruments for achieving a better standard of living. Fundamental issues of Political Economy can be defined as a conscious effort of the society to follow the economically developed in order to promote rapid and fundamental change. Such a...

We treat an extension of the Metcalfe and Steedman model of growth and distribution in a small open economy with government activity. We show, simultaneously, that certain kinds of taxation and government expenditures will not affect the essential nature of the “Cambridge Equation.” This is...