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Article

English, Spanish

ID: <

oai:doaj.org/article:84f5b7790fb34e029bbd399b4c384e66

>

Where these data come from
Macroeconomics and public expenditure in middle-development economies

Abstract

Kaleckianos reproduction schemes are suitable for properly formalising middle-development economies. However, assumptions about price insensitivity to demand and investment inversely related to the capital acquis are not appropriate to characterise these types of economies. The author, by giving an appropriate level of realism to his modelling, neglects such cases by formalising the economy through 4 departments including one exporter, who provides unprocessed means of production internally, and a public service in an open environment. The other departments concerned provide goods for wages and luxury, respectively. Considerations on Marxist investment and productive labour theory provide some additional conclusions on the role of the state in semi-industrialised economys.The Kaleckian schemes of reproduction are usefully to portray economies of intermediate development. But Kalecki’s basic assumptions on the unsensi tiveness of prices upon demand and the investment relationship between investment and capital stock are not approved for characterise this kind of economies. The authorisation attempts to introduce an appropriate level of Realism into his model by leaving these assumptions aside and creating an economic model of four departments, which include an export sector that provides inputs not Internally producedo The other departments provided wage and luxury goods. Further considerations on the Marxian theories of investment and productive work providing additional conclusions about the role played by the state in semi-industrialised economies.

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