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on Post Keynesian Economics |
| By: | Goodwin, Neva |
| Abstract: | The critical role for economic theory is no longer simply to explain how the existing system works, but also to explore how the economic system can be changed to become more adaptive and resilient in the face of the challenges of the 21st century, and how it can be more directly designed to support human well-being, in the present and the future. Simultaneous changes are needed, in both the actual economy (how it functions, by what rules, how it can be made responsive to constraints) and also in economic theory. |
| Keywords: | Contextual economics; economic theory; economic goals; bias in economic theory |
| JEL: | Z13 B00 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:27907&r=pke |
| By: | Ricardo Azevedo Araujo (Departamento de Economia (Department of Economics) Faculdade de Economia, Administração, Contabilidade e Ciência da Informação e Documentação (FACE) (Faculty of Economics, Administration, Accounting and Information Science) Universidade de Brasília); Joanílio Rodolpho Teixeira (Departamento de Economia (Department of Economics) Faculdade de Economia, Administração, Contabilidade e Ciência da Informação e Documentação (FACE) (Faculty of Economics, Administration, Accounting and Information Science) Universidade de Brasília) |
| Abstract: | With this inquiry we seek to develop a disaggregated version of the post-Keynesian approach to economic growth, by showing that indeed it can be treated as a particular case of the Pasinettian model of structural change and economic expansion. By relying upon vertical integration becomes possible to carry out the analysis initiated by Kaldor (1956) and Robinson (1956, 1962), and followed by Dutt (1984), Rowthorn (1982) and later Bhaduri and Marglin (1990) in a multi-sectoral model in which demand and productivity increase at different rates in each sector. By adopting this approach it is possible to show that the structural economic dynamics is conditioned not only to patterns of evolution of demand and diffusion of technological progress but also to the distributive features of the economy that can give rise to different regimes of economic growth. Besides we find it possible to determine the natural rate of profit that makes the mark-up rate to be constant over time. |
| Keywords: | Post-Keynesian growth model, structural change, multi-sector models |
| JEL: | E21 O11 |
| Date: | 2010–11 |
| URL: | http://d.repec.org/n?u=RePEc:brs:wpaper:330&r=pke |
| By: | Claude Diebolt (BETA/CNRS, Université de Strasbourg, France.); Antoine Parent; Jamel Trabelsi |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:afc:wpaper:10-11&r=pke |
| By: | Cathrine Holst |
| Abstract: | The capability approach developed by Martha Nussbaum and Amartya Sen has received substantial attention in recent years, in philosophical exchanges as well as in more applied discussions on policy-making, in particular in developing countries, but lately also in Western countries, including Europe and the EU. This paper contributes to the philosophical exchanges of Nussbaum’s version of the capability approach. Nussbaum herself presents her contribution as an alternative to John Rawls’ theory of justice, and following her lead, this paper compares Nussbaum and Rawls. The first part presents Nussbaum’s position and how it differs from Rawls’; the second and third parts develop arguments against substituting primary goods and a procedural justification of justice (Rawls) with capabilities and an ethical justification of justice (Nussbaum); the fourth part highlights some problems with Nussbaum’s conception of justice compared to Rawls’. The fifth and final part discusses how the critical points of the first four parts relate to European studies discussions on legitimacy in general and to RECON’s normative framework in particular. The merits of Nussbaum’s approach from a gender perspective are given particular attention. |
| Keywords: | democracy; gender policy; legitimacy |
| Date: | 2010–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:erp:reconx:p0085&r=pke |