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Tag Archives: Income distribution

Latin America at a Crossroads

New paper by Carlos Medeiros, with Nicholas Trebat, at the Centro Sraffa (h/t Alejandro Fiorito, and Revista Circus). From the abstract: This paper discusses the connections established in recent non–neoclassical literature between growth, structural change and income distribution in large developing economies. We argue that though many analyses have the merit of reintroducing income distribution as a factor in economic growth, they rely almost exclusively on macroeconomic theory, and thus...

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A Brief Sketch of the Classical-Keynesian Perspective

By David Fields, originally posted hereFrom a Classical-Keynesian perspective (Bortis, 1997, 2003), rates of interest regulate rates of profits (Panico, 1980, 1985), and, thus, real wages are endogenously determined. The presence of financial instruments, which represent titles to future flows of income, makes it so that the actual center of distributive conflict in capitalism lies not in the technical conditions of production, but is rather governed by the real rate of interest, which is...

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