You are looking at 1 - 7 of 7 items :

  • Author or Editor: Amitava Krishna Dutt x
  • Post-Keynesian Economics x
Clear All Modify Search
You do not have access to this content

Amitava Krishna Dutt

You do not have access to this content

Amitava Krishna Dutt

You do not have access to this content

Amitava Krishna Dutt

It has long been argued that an increase in inequality increases the rate of economic growth by increasing the share of income going to profit recipients, whose saving contributes to capital accumulation, so that growth is profit-led. A more recent tradition argues that an increase in equality and a rise in the wage share can increase growth by increasing consumption and investment demand, so that growth is wage-led. Bhaduri and Marglin and others argue, however, that even if economic activity is demand-determined, a shift in income distribution towards profits can increase output and growth. This paper examines how a reduction in inequality affects economic growth, thereby contributing to the debate on wage-led and profit-led growth and broadening it to focus on inequality rather than the profit share. It does so by reviewing and re-examining the cases in which workers save, the determinants of investment, and the open economy, three issues that have been emphasized in the literature.

You do not have access to this content

Amitava Krishna Dutt

This paper develops a simple Keynesian model of growth with endogenous technological change in which the long-run rate of growth of the economy is determined by both demand and supply forces to examine the effects of government fiscal policy. The paper first assumes that the government budget is balanced and shows that the long-run rate of growth of the economy is path-dependent, that fiscal policy affects the rate of growth of the economy in the short run as well as the long run, and that different types of government spending have different effects. It then introduces government deficits and debt into the analysis to show that even if one takes into account adverse effects of debt accumulation on long-term interest rates and investment, fiscal expansion can have positive growth effects.

You do not have access to this content

ROKE news

New member joins ROKE's Editorial Board

Amitava Krishna Dutt

This content is available to you

Amitava Krishna Dutt

This paper argues that the recent global crisis has confirmed in a stark manner that the dominant mainstream approach to the study of economics is seriously deficient. While these deficiencies are multidimensional, a major reason is that the dominant approach fails to take into account seriously and adequately three major aspects of real-world economies: uncertainty, power, and institutions. Incorporating these issues into economic analysis, which is the urgent and important business at hand for critics of mainstream economics, leads to a more appropriate approach to policies that can help to shape more desirable forms of capitalism.

You do not have access to this content

Amitava Krishna Dutt