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Kaldor after Sraffa

Author

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  • Óscar Dejuán

    (University of Castilla - La Mancha, Spain)

Abstract

Kaldor led the postKeynesian school in an attempt to project Keynes’ principle of effective demand into the long run, the realm of growth theories. This paper examines Kaldor’s major contributions to growth, technical change, distribution and money, in order to integrate them into the surplus approach. An approach that combines the classicalSraffian theory of value and distribution with the KeynesianpostKeynesian theory of output and money. An approach that considers capitalism as a demand- constrained system, both in the short run and in the long run, without neglecting the limits derived from the supply side.

Suggested Citation

  • Óscar Dejuán, 2019. "Kaldor after Sraffa," Bulletin of Political Economy, Bulletin of Political Economy, vol. 13(1), pages 1-19, June.
    • Handle: RePEc:awu:journl:v:13:y:2019:i:1:p:1-19
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Surplus approach; principle of effective demand; growth and distribution; supermultiplier; Sraffa; Kaldor;
    All these keywords.

    JEL classification:

    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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