Inequality and capital accumulation in peripherical capitalism

Raúl Prebisch ()

Brazilian Journal of Political Economy, 1987, vol. 7, issue 1, 3-7

Abstract: The paper argues that in developing countries the changing political and socialrelations so as the technical progress create a systematic tendency for a dynamic disequilibriumbetween consumption and investment. Under these conditions, continued growthrequires a macroeconomic policy directed to increase the rate of accumulation through a reductionin the aggregate consumption of both capitalist and working classes. Politically thiskind of regulatory policy should be seen as an opportunity for the working class to increaseits share in the wealth ownership. JEL Classification: E21; E25; O43.

Keywords: Inequality; economic growth; effective demand; productivity (search for similar items in EconPapers)
Date: 1987
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