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

Sulafa Nofal ()

Brazilian Journal of Political Economy, 2021, vol. 41, issue 4, 782-796

Abstract: Kaleckian literature is considered an important theme in the post-Keynesianschool of economic thought. In the aftermath of the financial crisis, the endeavors offorming a new consensus regarding essential economic issues, in particular achievingeconomic growth became a need. Thus, the Kaleckian models returned to be in the spotsince these models tackle the impact of changes in the distribution of income and addressthe question whether a redistribution of income away from wages and towards profits iscapable of boosting growth. In this sense, this paper return to Kaleckian insights and offersa theoretical discussion of the distributional effects on aggregate demand and economicgrowth. Moreover, through the lens of neo-Kaleckian tradition, the evolution of the debateon 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 (search for similar items in EconPapers)
Date: 2021
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