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Post-Keynesian growth theory and the supply side: a feminist-structuralist approach

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  • Mark Setterfield

    (Department of Economics, New School for Social Research, USA)

Abstract

Post-Keynesian macrodynamics is designed to extend the role of demand in the determination of real economic outcomes beyond the short run. The purpose of this paper is to highlight the importance of supply-side considerations in demand-led growth. Building on existing features of the supply side in Post-Keynesian growth theory, three new developments are highlighted: human capital accumulation, the social reproduction of labour, and the supply-side link between distribution and growth. These new developments are shown to yield new insights into the established themes of reconciling demand and supply in the theory of long-run growth, and the relationship between distribution and growth. Furthermore, the feminist-structuralist model used to explore the social reproduction of labour is shown to be a potential general framework for synthesizing these insights.

Suggested Citation

  • Mark Setterfield, 2023. "Post-Keynesian growth theory and the supply side: a feminist-structuralist approach," Working Papers 2302, New School for Social Research, Department of Economics.
    • Handle: RePEc:new:wpaper:2302
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    File URL: http://www.economicpolicyresearch.org/econ/2023/NSSR_WP_022023.pdf
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    References listed on IDEAS

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    Cited by:

    1. Gilberto Tadeu Lima & Laura Barbosa de Carvalho & Gustavo Pereira Serra, 2024. "Human Capital Accumulation and Output Growth in Demand-led Macrodynamics," Working Papers, Department of Economics 2024_23, University of São Paulo (FEA-USP), revised 28 Aug 2024.
    2. Jo Michell, 2023. "Macroeconomic policy at the end of the age of abundance," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 20(2), pages 369-387, November.

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    More about this item

    Keywords

    Demand-led growth; potential rate of growth; technical change; human capital; human capacities; care-giving;
    All these keywords.

    JEL classification:

    • B54 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Feminist Economics
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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