IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-01435727.html
   My bibliography  Save this paper

Income distribution, rentiers and their role in a capitalist economy: A Keynes-Pasinetti perspective

Author

Listed:
  • Marc Lavoie

    (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique, University of Ottawa [Ottawa])

  • Mario Seccareccia

    (University of Ottawa [Ottawa])

Abstract

The paper reviews some of the important developments since the financial crisis both on the issue of secular stagnation, as put forth by Lawrence Summers (2014a), and the rising share of profit as put forth by Thomas Piketty (2014), and it also seeks to tackle the issue of income distribution in a Keynes–Pasinetti perspective that offers important Keynesian analytics of the cyclical and long-term interaction between the rentier and the nonrentier sectors. This alternative Keynesian perspective on income distribution serves to shed light, both theoretically and empirically, on the specific evolution of this socioeconomic interaction, by analyzing time series over long historical periods for both the United States and Canada going back to before the Great Depression. It also seeks to better frame the well-known policy perspective on the euthanasia of the rentiers espoused by Keynes in the General Theory.

Suggested Citation

  • Marc Lavoie & Mario Seccareccia, 2016. "Income distribution, rentiers and their role in a capitalist economy: A Keynes-Pasinetti perspective," Post-Print hal-01435727, HAL.
    • Handle: RePEc:hal:journl:hal-01435727
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Stratford, Beth, 2020. "The Threat of Rent Extraction in a Resource-constrained Future," Ecological Economics, Elsevier, vol. 169(C).
    2. Leiva, Benjamin, 2020. "Natural resource rent allocation, government quality, and concession design: The case of copper in Chile," Resources Policy, Elsevier, vol. 68(C).
    3. Louis-Philippe Rochon & Guillaume Vallet, 2022. "The institutions of the people, by the people and for the people? Addressing central banks' power and social responsibility in a democracy," PSL Quarterly Review, Economia civile, vol. 75(301), pages 83-102.
    4. Enrico Sergio Levrero, 2021. "Estimates of the Natural Rate of Interest and the Stance of Monetary Policies: A Critical Assessment," International Journal of Political Economy, Taylor & Francis Journals, vol. 50(1), pages 5-27, February.
    5. Guillaume Vallet, 2021. "Great Power, Great Responsibility: Addressing the Underestimated Issue of Central Bank’s Social Responsibility," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 10(3), pages 23-39.
    6. Stefano Di Bucchianico, 2021. "Negative Interest Rate Policy to Fight Secular Stagnation: Unfeasible, Ineffective, Irrelevant, or Inadequate?," Review of Political Economy, Taylor & Francis Journals, vol. 33(4), pages 687-710, October.
    7. Marc Lavoie & Mario Seccareccia, 2019. "Macroeconomics and natural rates: some reflections on Pasinetti’s fair rate of interest," Bulletin of Political Economy, Bulletin of Political Economy, vol. 13(2), pages 139-165, December.
    8. Di Bucchianico, Stefano, 2021. "Inequality, household debt, ageing and bubbles: A model of demand-side Secular Stagnation," IPE Working Papers 160/2021, Berlin School of Economics and Law, Institute for International Political Economy (IPE).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-01435727. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.