An assessment of the debates over income distribution and growth in the Neo-Kaleckian literature

Vol. 41 No. 4 (2021)

Out-Dez/2021
Published November 11, 2021
PDF-English
PDF-English

How to Cite

Nofal, Sulafa. 2021. “An Assessment of the Debates over Income Distribution and Growth in the Neo-Kaleckian Literature”. Brazilian Journal of Political Economy 41 (4):782-96. https://doi.org/10.1590/0101-31572021-3165.

An assessment of the debates over income distribution and growth in the Neo-Kaleckian literature

Sulafa Nofal
PhD student in Economics at Universidade de Brasília – UnB, Brasília/DF, Brasil.
Brazilian Journal of Political Economy, Vol. 41 No. 4 (2021), Out-Dez/2021, Pages 782-796

Abstract

Kaleckian literature is considered an important theme in the post-Keynesian
school of economic thought. In the aftermath of the financial crisis, the endeavors of
forming a new consensus regarding essential economic issues, in particular achieving
economic growth became a need. Thus, the Kaleckian models returned to be in the spot
since these models tackle the impact of changes in the distribution of income and address
the question whether a redistribution of income away from wages and towards profits is
capable of boosting growth. In this sense, this paper return to Kaleckian insights and offers
a theoretical discussion of the distributional effects on aggregate demand and economic
growth. Moreover, through the lens of neo-Kaleckian tradition, the evolution of the debate
on wage-led and profit-led regimes in recent decades can be traced.

JEL Classification: E21; E12; E11.


Keywords: Economic growth income distribution Kaleckian models wage-led profit-led