Technical progress and income distribution: the interpretation of Luiz Bresser-Pereira

Fabio Anderaos de Araújo ()

Brazilian Journal of Political Economy, 1994, vol. 14, issue 1, 158-169

Abstract: The article examines Bresser-Pereira’s view on distribution of income, presentedin his book Profit, Accumulation and Crisis, regarding the link between the rate of profitand the rate of interest. The author presents an alternative approach based on the recentcontributions made by Carlo Panico and Massimo Pivetti, both from the University ofNaples. Panico’s model emphasizes both, the risk-return elements and the “storage of value”aspect, another important function performed by money, which affect the distributionof income industrial capitalists, workers and bankers. The author also discusses the priceformation methodology when technical change is presented, claiming that Sraffa’s model ismore adequate to understand the evolution of the rate of profit in the long run. JEL Classification: B24; B31.

Keywords: History of economic thought; Bresser-Pereira (search for similar items in EconPapers)
Date: 1994
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