Tag Archives: Marglin

New issue of ROKE with papers by Stephen Marglin, Amit Bhaduri, Esteban Pérez (with your truly) among others. Last issue of the several in honor of the 25 years of the Marglin-Bhaduri papers on profit-led/wag-led growth. From the abstract of Marglin's paper: The central question this paper addresses is the same one I explored in my joint work with Amit Bhaduri 25 years ago: under what circumstances are high wages good for employment? I extend our 1990 argument in three directions....

Bill McColloch published a new PERI Working Paper, which deals with the same issues, in a very different way, raised in the last chapter of his dissertation. From the abstract: The present paper seeks to locate the Bhaduri-Marglin (B-M) model as an historical outcome of the Left's internal disputes over the prospects for social democracy. In better  contextualizing the B-M model as a historical response to the perceived political economic failings of the social compromises upon which the...

This is a post for those interested in demand-led theories of growth. Not long ago I wrote a post on misconceptions about Sraffian economics. Marc Lavoie sent me a nice email about it, and a recent paper he published in Metroeconomica (subscription required), which comments on a paper I wrote with Esteban Pérez (working paper available here). In his discussion of supermultiplier models, which put the multiplier and the accelerator together to explain -- not fluctuations of the level of...