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on Post Keynesian Economics |
| By: | Ederer, Stefan; Rehm, Miriam |
| Abstract: | This paper develops a stock-flow consistent Post-Keynesian model in the Kalecki-Steindl tradition with endogenous wealth accumulation and distribution, which captures the key aspects of the Cambridge debate on (anti-)dual and Pasinetti equilibria. We find that a stable interior solution - that is, a Pasinetti equilibrium - is the most likely outcome, while the corner solutions of dual and anti-dual equilibria - both the euthanasia and the triumph of the rentier - are special cases of a standard Bhaduri-Marglin model. Endogenizing the profit share yields a two-dimensional dynamic system of the wealth concentration and the profit share, which is stable for a wide range of parameter values, as long as the concentration of wealth is not unrealistically low. An interior Pasinetti equilibrium thus remains the most likely outcome. However, for certain parameter combinations, the system may move onto an explosive trajectory with an ever-rising concentration of wealth and income in the hands of capitalists. Numerically illustrating the results of the analytical model shows that endogenizing the profit share leads to a more unequal wealth distribution, and a negative feedback effect between high wealth inequality, a high profit share, and growth. |
| Keywords: | wealth distribution, Post-Keynesian model, aggregate demand, Pasinetti, profit rate |
| JEL: | B22 D31 D33 E12 E21 E64 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifsowp:308036 |
| By: | Rémy Herrera (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article intends to return to Marx's theory of the State to show that this author left us numerous and fruitful elements, the analyzes of which deserve to be meditated on today. From the conception of the State as an alienated expression of civil society to that of the organization of the dominant class, then from that of the apparatus or machine to that of the lever of the revolution, Marx's interpretation has evolved to become more complex, and enriched. We should also know how to situate this State at the heart of the dynamic of capital accumulation, in particular through its role relative to money, itself located between value and profit, but also in its interventions in colonial and commercial policies. Finally, the article insists on the fact that capitalism is today in an impasse and doomed, its State being experiencing more and more difficulties in the face of the deep contradictions of this system. This is the reason why Marxism still remains an essential theoretical reference. |
| Keywords: | Marxian theory, State, capitalism, crisis, revolution |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:cesptp:hal-04796811 |
| By: | Rémy Herrera (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article analyzes the evolutions of Marx's positions on colonization. It first emphasizes the invariant of his reflections: the denunciation of colonial violence. We initially find an interpretation of colonization as a process of modernization, then as a dynamic of "destruction-regeneration, " linked to the "unification of the world." The author identifies above all the successive inflections of Marx's – resolutely critical – thought about colonial and national issues, the non-linear character of history, and the differentiation of social formations. |
| Abstract: | Cet article analyse les évolutions des positions de Marx à propos de la colonisation. Il souligne tout d'abord l'invariant de ces réflexions : la dénonciation de la violence coloniale. Au départ, on trouve une interprétation de la colonisation comme processus de modernisation, puis comme dynamique de destruction-régénération, liée à l'« unification du monde ». L'auteur identifie spécialement les inflexions successives de la pensée de Marx résolument critique -, au sujet des questions coloniale et nationale, du caractère non linéaire de l'histoire, mais aussi de la différenciation des formations sociales. |
| Keywords: | Marxism, capitalism, colonization, destruction-regeneration, non linearity, social formations, Marxisme capitalisme colonisation violence destruction-régénération nonlinéarité formations sociales Marxism capitalism colonization violence destruction-regeneration non linearity social formations Classification JEL : B14 B51 N10, Marxisme, capitalisme, colonisation, violence, destruction-régénération, nonlinéarité, Formations sociales |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:cesptp:hal-04796804 |
| By: | Goldin, Claudia (Harvard University) |
| Abstract: | There are many roads one can take in life. But to what extent will your life choices decide what kind of person you become? Listen to our podcast conversation with economist and laureate Claudia Goldin, as we discuss the choices that brought her to this moment in time. |
| Keywords: | Gender in labor markets; |
| JEL: | J70 J71 J78 |
| Date: | 2024–06–06 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nobelp:2023_004 |
| By: | Singhal, Karan; Sierminska, Eva |
| Abstract: | This chapter presents evidence of the challenges faced by women and underrepresented minorities in Economics. It, first, examines the demographics of the economics profession, highlighting significant disparities in representation. Despite some progress, under representation remains prevalent at different educational levels and at higher academic positions, for the most part. Subsequently, the chapter reviews research on existing barriers and biases contributing to this under representation. Recent work has emphasized the crucial role of attitudes and institutional practices throughout the career pipeline. The chapter highlights evidence of these barriers across different stages of the academic journey, including research endeavors, publication processes, employment opportunities, and promotion and tenure considerations, as well as recent developments related to COVID-19 and the #MeToo movement, which have further influenced discussions on inclusivity and diversity in the field. This chapter underscores the continued need for collective efforts from the economics community to confront these barriers through targeted research and innovative interventions. By enhancing the experiences and opportunities for underrepresented academics, the field of economics could be enriched through fostering a broader range of perspectives, which could also facilitate a deeper understanding of complex societal issues. In line with this objective, the chapter also provides valuable data sources that researchers can utilize to investigate disparities and offer information about collectives and programs dedicated to promoting inclusivity and diversity through mentoring initiatives, research grants, and other forms of support. |
| Keywords: | gender, minorities, economics, tenure, promotion, COVID-19 |
| JEL: | A11 A20 J15 J16 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1536 |