A longstanding criticism to Keynesian and Kaleckian growth theories is the question: why would firms operating with …. The implications for growth and distribution depend on how the model is closed: (iv) with a distributive closure …, equilibrium growth and profitability are both strictly below their socially-coordinated counterpart; (v) with an exogenous labor …

In Kaleckian models of distribution and growth the equilibrium rate of capacity utilisation may persistently diverge …-run endogeneity. Generally, we show that in a Kaleckian monetary distribution and growth model, which takes the major features of a …