The aim of this paper is to shed light on the idea of demand-led growth and in particular debate of the last two decades on the appropriate direction of non-marginalist growth theory by exploring the relation between growth and autonomous demands in a fixed capital model proper. The paper...

Research over the last 10 to 15 years on the possibility of a Sraffa—Keynes synthesis has, in part, been concerned with clarifying the concept of a normal rate of capacity utilization, as well as its role in price determination and its interdependence with relative prices. This paper examines...

The purpose of the paper is a clarification of the concept of competition from a classical/ Sraffian perspective; including an elucidation of how a classical/Sraffian approach might go about defining the degree of competition. This in turn allows for a sharper contrast between the Sraffian view...

Recent literature on a classical cross-dual dynamics has argued the need to supplement these dynamics with short-run dual adjustments interpreted, for the most part, as Keynesian. This paper provides a critique of the implied interpretation of Keynes's insights into the nature of capitalism; and...

The paper represents a preliminary attempt to shed light on the following question: in the context of demand-led growth, how does learning by agents about the economic system's structure and the determinants of long-run growth affect the long-run dynamics of the economy? Analysis is conducted in...

An essential point to arise out of macroeconomic literature of the last twenty years is that imperfect competition in product markets allows scope for aggregate demand to affect the level of output and employment; and to have positive impacts on "welfare". The present paper considers the...

The paper explores the implications of different autonomous demands, with differing rates of growth, in a demand-led growth model where policy makers are concerned about the ratios of public sector debt to income and external debt to income. The actual growth rate is explained in terms of the...