Weintraub's consumption coefficient

Robert Dixon

Cambridge Journal of Economics, 2002, vol. 26, issue 5, 659-662

Abstract: The author contends that Weintraub's consumption coefficient, the ratio of total consumer expenditure to income from employment, cannot help to elucidate trends in the sectoral and functional distributions of income. Nor can it enhance the Kalecki's macroeconomic model. It cannot do either of these things because it is distribution determined, not distribution determining. Further, it is argued that the use of Weintraub's consumption coefficient distracts us from basing our analysis of income distribution on business mark-ups, which lie at the core of the Kaleckian research program. Copyright 2002, Oxford University Press.

Date: 2002
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