On a Post-keynesian Stream from France and Italy : The Circuit Approach.

The aim of this paper is to show and discuss the connections between the circuitiste approach developed in France and in Italy and Post-Keynesian economics. These two strands intersect systematically with a number of streams forming the Post-Keynesian body of ideas. We view this strand as a genuinely original stream within the Post-Keynesian framework which will be called the Post-Keynesian Circuit (PKC). In this context, section 2 will outline the relevant features selected to analyze in section 3 the links with Kalecki's concepts of effective demand. Section 4 will compare the PKC approach to some ideas put forward by Nicholas Kaldor, while section 5 will establish the connections with the structuralist component of Post-Keyenesian theories. Finally section 6 will conclude by showing how the introduction of rentiers's income gives rise to a quasi Sraffian set of relations. We conclude raising some questions which may be conducive to further research.