Journal•ISSN: 0953-8259
Review of Political Economy
Taylor & Francis
About: Review of Political Economy is an academic journal published by Taylor & Francis. The journal publishes majorly in the area(s): Capital (economics) & Post-Keynesian economics. It has an ISSN identifier of 0953-8259. Over the lifetime, 1264 publications have been published receiving 16884 citations.
Papers published on a yearly basis
Papers
More filters
TL;DR: The authors argue that economics is undergoing a fundamental shift in its method, away from neoclassical economics and into something new, which is centered on dynamics, recursive methods and complexity theory.
Abstract: This article argues that economics is currently undergoing a fundamental shift in its method, away from neoclassical economics and into something new. Although that something new has not been fully developed, it is beginning to take form and is centered on dynamics, recursive methods and complexity theory. The foundation of this change is coming from economists who are doing cutting edge work and influencing mainstream economics. These economists are defining and laying the theoretical groundwork for the fundamental shift that is occurring in the economics profession.
404 citations
TL;DR: Sen's capability approach (SCA) has supported valuable work on Human Development (HD) and has brought attention to a much wider range of information on people's freedoms and well-being than in most...
Abstract: Sen's capability approach (SCA) has supported valuable work on Human Development (HD). It has brought attention to a much wider range of information on people's freedoms and well-being than in most...
294 citations
209 citations
TL;DR: The causes and consequences of income and wealth inequality have become matters of deep interest, not only to social scientists but also to the general public as discussed by the authors. In clear and accessible language and...
Abstract: The causes and consequences of income and wealth inequality have become matters of deep interest, not only to social scientists but also to the general public. In clear and accessible language and ...
165 citations
TL;DR: In this paper, the authors present a simple but complete formal version of the Sraffian supermultiplier model in which growth is led by the autonomous components of demand that do not create capacity.
Abstract: The paper presents a simple but complete formal version of the Sraffian supermultiplier model in which (i) growth is led by the autonomous components of demand that do not create capacity; (ii) private productive investment is an induced expenditure; and (iii) income distribution is exogenous. We show that the main results of the long-period and fully adjusted versions of the model in terms of growth rate and level effects are quite similar and therefore that such results in no way require the full adjustment of capacity to demand. We then analyze a simple set of sufficient dynamic local stability conditions that allow the long-period positions to gravitate towards the fully adjusted position in which capacity is adjusted to demand and that also provide the upper limit to demand-led growth paths. Finally, we show how some critics of the model have misinterpreted it as being supply-led and how this has led to a further confusion between the analysis of the tendency towards a constant value of the c...
128 citations