Inequality, Growth and ‘Hot’ Money

Inequality, Growth and ‘Hot’ Money

New Directions in Post-Keynesian Economics series

Pablo G. Bortz

The growing levels of income inequality, an explosion of global financial flows, and a worldwide decline of economic growth have combined to challenge accepted economic wisdom. Utilizing a heterodox approach, Pablo G. Bortz provides a fresh look for understanding the interaction between these three factors while identifying challenges and possible alternatives for an expansionary and progressive economic policy.

Chapter 6: Epilogue: challenges and possibilities

Pablo G. Bortz

Subjects: economics and finance, development economics, post-keynesian economics


The chapter provides the conclusion and main message of the book, describing general challenges and possibilities for developing countries, many of which are also applicable to some developed ones. In particular, the reversal in capital flows that started in 2015 will reveal the impact of previous inflows on the productive structure. But the chapter calls for a more engaging policy approach, learning from the resilience that developing countries showed to the 2008. A more active credit policy, targeting strategic sectors, among a macroeconomic framework oriented to sustain high employment levels and reduce financial fragility is called for.

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