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Inequality and capital accumulation in peripherical capitalism

Author

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  • Raúl Prebisch

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.

Suggested Citation

  • Raúl Prebisch, 1987. "Inequality and capital accumulation in peripherical capitalism," Brazilian Journal of Political Economy, Center of Political Economy, vol. 7(1), pages 3-7.
    • Handle: RePEc:ekm:repojs:v:7:y:1987:i:1:p:3-7:id:1635
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1635/1621
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    More about this item

    Keywords

    Inequality; economic growth; effective demand; productivity;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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