Principles of Fiscal Deficits and Debt Management According to Kalecki
Economist Kalecki advocated for a permanent regime of fiscal deficits to manage public debt, emphasizing the importance of debt management for liquidity in the financial system. His principles involve splitting the government budget into functional and financial parts, each influencing aggregate dem
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Understanding Overhead Labour Costs in Neo-Kaleckian Growth Models
Overhead labour costs play a crucial role in income distribution and determining whether economies operate in a profit-led or wage-led demand regime. This article explores the relationship between overhead labour, non-supervisory workers, and managers in the context of economic models proposed by re
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Kalecki's Analysis of Fiscal Policies for Full Employment
Malcolm Sawyer discusses Kalecki's contributions to analyzing fiscal policies for achieving full employment. The content covers topics such as financing public and private expenditure, the role of budget deficits in maintaining full employment, the impact of public debt, and obstacles to achieving f
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