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This short note argues that the canonical neo‐Kaleckian growth model does not yield a balanced growth path due to the absence of an inbuilt mechanism by which desired and actual rates of capital accumulation are equalized. Introducing non‐generating capacity autonomous demand does not solve such inconsistency. Contrary to what Lavoie ([Lavoie, M., 2016]) claims, we show that the latter is also unable...
We look at two emerging economies, Brazil and China, and propose an evaluation of their recent development in terms of growth performance and the evolution of income inequality. Our analysis, therefore, is related to the literature on their recent vast growth and also to the much debated Kuznets curve and theory. However, we claim that neither the growth nor the Kuznets approach capture recent relevant...
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