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‘Too bright for comfort’: a Kaleckian view of profit realisation in the USA, 1964–2009

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  • David M. Brennan

Abstract

This paper uses modern gross national product accounting conventions to chart the various expenditures responsible for profit realisation from 1964 to 2009 in the USA. Revealed are significant changes in the main drivers of profit realisation after 1982. Specifically, the shifting distribution of income away from median workers and the use of debt are increasingly responsible for profit realisation after 1982. This represents a significant aspect of the economy that set the environment for the recent crisis and has implications for a post-crisis economy as well.

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  • David M. Brennan, 2014. "‘Too bright for comfort’: a Kaleckian view of profit realisation in the USA, 1964–2009," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 38(1), pages 239-255.
    • Handle: RePEc:oup:cambje:v:38:y:2014:i:1:p:239-255.
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    File URL: http://hdl.handle.net/10.1093/cje/bet043
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    Cited by:

    1. Maria N. Ivanova, 2017. "Profit growth in boom and bust: the Great Recession and the Great Depression in comparative perspective," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 26(1), pages 1-20.
    2. Trofimov, Ivan D., 2022. "Determinants of the profit rates in the OECD economies: A panel data analysis of the Kalecki's profit equation," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 380-397.

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