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on Post Keynesian Economics |
| By: | Clara Zanon Brenck (Cedeplar, Federal University of Minas Gerais (UFMG), Brazil); Mark Setterfield (Department of Economics, New School for Social Research, USA) |
| Abstract: | The relationship between inequality and growth has long attracted the attention of Post-Keynesian economists. The Balance-of-Payments-Constrained Growth (BPCG) approach, however, emphasizes that in the long run it is the external constraint that ultimately pins down the growth rate. This paper contributes to that literature by developing a theoretical version of an Income Distribution Sensitive Thirlwall's Law, in which import income elasticities are decomposed by income group and the aggregate elasticity becomes a weighted average of group-specific elasticities. Changes in personal income distribution therefore modify the balance-of-payments-constrained equilibrium growth rate. Using Brazilian household microdata for 2018, we estimate income elasticities for ten income groups and convert them into import income elasticities. The results show that these elasticities vary systematically across the distribution and that more unequal income distributions are associated with a higher aggregate import income elasticity and a lower growth rate compatible with balance-of-payments equilibrium, underscoring the need to incorporate inequality directly into Thirlwall's law. |
| Keywords: | Inequality, income elasticities of demand for imports, Balance of Payments Constrained Growth, Thirlwall's law |
| JEL: | E12 F43 O41 O54 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:new:wpaper:2602 |
| By: | Juan Manuel Campana; Eckhard Hein |
| Abstract: | This article links different approaches to analysing demand and growth regimes with the structure of international trade. We apply the national income and financial accounting as well as the Sraffian supermultiplier demand-led growth decomposition approaches to analyse the growth regimes of two advanced economies (Germany and Spain) and five emerging economies (Argentina, Brazil, India, South Africa and Turkey) over the period 2000-2019. Our analysis shows that exports have become an increasingly important autonomous source of growth in most countries. However, structural changes in exports are uneven and reveal growing polarisation. We therefore identify a spectrum of export-led regimes and propose a classification typology based on technological content, economic complexity rankings, and the dominance of different autonomous demand components. The findings highlight the limitations of treating export-led growth as a homogeneous model or regime and underscore the importance of considering the country-specific structural characteristics that shape different export-led regimes. |
| Keywords: | accounting, economic growth, trade, structural change, political economy |
| JEL: | E11 F43 P51 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2604 |
| By: | Nicolas B. Verger (DCU - Dublin City University [Dublin]); Raffi Duymedjian (EESC-GEM - Grenoble Ecole de Management); Vlad P Glăveanu (DCU - Dublin City University [Dublin]) |
| Abstract: | Meritocracy is often discussed as an issue of distributive justice – that is, as the fair allocation of resources. Capitalist organizations are frequently structured around meritocracy, rewarding people hierarchically according to their talent and hard work. Amid concerns that these organizations also contribute to sustaining the ecological crisis, how does meritocracy contribute to, or maintain, environmental damage? In this Connexion piece, we explore this issue. Our analysis identifies a dominant system embedded within capitalism, which we call the Meritocracy of Production. This system views the world primarily as a collection of exploitable resources, rewarding maximization, efficiency and innovative exploitation aimed at unlimited outputs, often justifying extensive resource extraction with little regard for socio-ecological consequences. By contrast, we discuss practices (e.g. bricolage, upcycling, low-tech) that exemplify a Meritocracy of Preservation. This alternative emphasizes sustainable co-existence and collective robustness, valuing dignified, respectful and interdependent relations within ecological and social environments. It rewards practices that sustainably contribute to co-habitation and co-existence. We argue these two meritocratic systems are ontologically equivalent, each offering distinct worldviews, narratives and modes of engagement with the world. People and organizations navigate tensions between these poles by borrowing discursive and representational elements from both systems. While these elements simultaneously influence everyday practices, capitalist organizations are heavily skewed toward the Meritocracy of Production, placing little emphasis on valuing efforts of dynamic preservation—that is, on amplifying the worth and dignity of multiple things-in-the-world, not as a return to a pristine past, but as their ongoing rearrangements to enable their cohabitation. Recognizing this interplay highlights the need to shift towards greater ecological balance and environmental responsibility. |
| Abstract: | La méritocratie est souvent abordée comme une question de justice distributive, c'est-à-dire comme une allocation équitable des ressources. Les organisations capitalistes sont fréquemment structurées autour de la méritocratie, récompensant les individus de manière hiérarchique en fonction de leur talent et de leur travail. Alors que ces organisations sont également mises en cause pour leur contribution au maintien de la crise écologique, comment la méritocratie participe-t-elle aux dommages environnementaux, ou les perpétue-t-elle ? Dans cet article de Connexion, nous explorons cette question. Notre analyse met en évidence un système dominant inscrit dans le capitalisme, que nous appelons la méritocratie de la production. Ce système considère le monde avant tout comme un ensemble de ressources exploitables et valorise la maximisation, l'efficacité et l'exploitation innovante orientées vers une production illimitée, justifiant souvent une extraction intensive des ressources sans réelle prise en compte des conséquences socio-écologiques. À l'inverse, nous examinons des pratiques (par exemple le bricolage, l'upcycling, le low-tech) qui illustrent une méritocratie de la préservation. Cette alternative met l'accent sur une coexistence durable et une robustesse collective, en valorisant des relations dignes, respectueuses et interdépendantes au sein des environnements écologiques et sociaux. Elle récompense les pratiques qui contribuent de manière durable à la cohabitation et à la coexistence. Nous soutenons que ces deux systèmes méritocratiques sont ontologiquement équivalents, chacun proposant des visions du monde, des récits et des modes d'engagement distincts avec celui-ci. Les individus et les organisations naviguent entre ces pôles en empruntant des éléments discursifs et représentationnels à chacun des deux systèmes. Bien que ces éléments influencent simultanément les pratiques quotidiennes, les organisations capitalistes restent fortement orientées vers la méritocratie de la production, accordant peu d'importance à la valorisation des efforts de préservation dynamique — c'est-à-dire à l'amplification de la valeur et de la dignité de multiples entités-au-monde, non pas comme un retour à un passé pristine, mais comme des réagencements continus permettant leur cohabitation. Reconnaître cette interaction met en lumière la nécessité d'un déplacement vers un plus grand équilibre écologique et une responsabilité environnementale accrue. |
| Keywords: | Creative preservation, creativity, ecology, innovation, meritocracy, post-growth, resource, resourcification, sustainability ORCID iDs |
| Date: | 2025–07–13 |
| URL: | https://d.repec.org/n?u=RePEc:hal:gemptp:hal-05422094 |
| By: | Buchholz, Maximilian; Kemeny, Tom; Randolph, Gregory; Storper, Michael |
| Abstract: | A popular view holds that declining housing affordability stems from regulations that restrict new supply, and that deregulation will spur sufficient market-rate construction to meaningfully improve affordability. We argue that this ‘deregulationist’ view rests upon flawed assumptions. Through empirical simulation, we show that even a dramatic, deregulation-driven supply expansion would take decades to generate widespread affordability in high-cost U.S. markets. We advance an alternative explanation of declining affordability grounded in demand structure and geography: uneven demand growth – driven by rising interpersonal and interregional inequality – is the primary driver of declining affordability in recent decades. For cost-burdened households, trickle-down benefits from deregulation will be insufficient and too slow. |
| Date: | 2026–01–17 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:95trz_v1 |
| By: | Jackson, Nadine R. |
| Abstract: | This essay investigates prisons in the U.S. South as infrastructures of state-manufactured socio- ecological warfare. Drawing from necropolitics, carceral geography, and political ecology, I propose carceral socio-ecological violence as a framework for analyzing how incarceration produces environmental violence that extends beyond confinement. Prisons contaminate ecosystems, dismantle community knowledge systems, and undermine the social cohesion required for collective survival. EPA compliance data from 232 facilities across thirteen states (2019–2024) reveal sustained and extreme violations: wastewater discharges exceeded federal toxicity thresholds by 2, 400%, and radiological contamination persisted for twelve consecutive reporting cycles. Over 72% of these violations occurred in communities facing structural poverty, racial segregation, and political disenfranchisement—elements of a broader strategy of state-sanctioned abandonment. The essay examines the 2025 rollback of environmental protections, including the closure of environmental justice offices, deletion of compliance and violation records, and mass exemption of industrial polluters from federal law. In response, I propose a community-based Environmental Justice Governance Framework rooted in collective autonomy, including independent monitoring networks, direct community control over environmental and public health decisions, and decentralized resource infrastructures. Carceral socio-ecological violence exposes how mass incarceration, environmental degradation, and epistemic erasure function as interlocking systems of racial control. Affirming the necessity of abolition, I call for the transfer of environmental and public health governance to communities historically targeted by state violence and systemic neglect. |
| Date: | 2026–01–24 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:rk8je_v1 |