A two-region model is developed to examine the implications of trade and capital flows between the North, which produces a good which is used for consumption and investment purposes in both the North and the South, and the South, which produces a good which is used as a consumption good in the...

This paper takes up the question of whether government debt worsens the distribution of income as tax revenues from workers are used to pay for the interest on the debt held by the rich. In so doing, we develop a post-Keynesian model in which growth is determined by aggregate demand rather than...

This paper argues that classical-Marxian models of economic growth are similar to neoclassical models in neglecting the role of aggregate demand, either by omitting aggregate demand issues altogether or by relegating the role of aggregate demand to the short run. By reviewing the writings of...

The interaction between economic growth and income distribution is examined using Kaleckian/post-Keynesian models in which there are lags in investment and in which the dynamics of income distribution between wages and profits depends on changes in power relations in both the labour market and...

This paper analyses labour productivity and the law of decreasing labour content (LDLC) originally formulated by Farjoun and Machover. While accepting the validity of that law, it shows that the conventional measures of labour productivity used in the literature may be rather misleading, because...