{"id":869,"date":"2016-04-21T10:40:13","date_gmt":"2016-04-21T17:40:13","guid":{"rendered":"http:\/\/www.thomaspalley.com\/?p=869"},"modified":"2018-12-11T18:38:34","modified_gmt":"2018-12-12T01:38:34","slug":"inequality-and-growth-in-neo-kaleckian-and-cambridge-growth-theory","status":"publish","type":"post","link":"https:\/\/thomaspalley.com\/?p=869","title":{"rendered":"Inequality and Growth in Neo-Kaleckian and Cambridge Growth Theory"},"content":{"rendered":"<p>This paper examines the relationship between inequality and growth in the neo-Kaleckian and Cambridge growth models. The paper explores the channels whereby functional and personal income distribution impact growth. The growth \u2013 inequality relationship can be negative or positive, depending on the economy\u2019s characteristics. Contrary to widespread claims, inequality <em>per se<\/em> does not impact growth through macroeconomic channels. Instead, both growth and inequality are impacted by changes in the underlying forms and pattern of income payments. However, inequality is critical at the microeconomic level as it explains differences in household propensities to consume which are at the foundation of neo-Kaleckian and Cambridge growth theory. <a href=\"http:\/\/www.peri.umass.edu\/fileadmin\/pdf\/working_papers\/working_papers_401-450\/WP417.pdf\" rel=\"nofollow\">READ MORE.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This paper examines the relationship between inequality and growth in the neo-Kaleckian and Cambridge growth models. The paper explores the channels whereby functional and personal income distribution impact growth. The growth \u2013 inequality relationship can be negative or positive, depending on the economy\u2019s characteristics. Contrary to widespread claims, inequality per se does not impact growth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-869","post","type-post","status-publish","format-standard","hentry","category-economics","category-political-economy"],"_links":{"self":[{"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/posts\/869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=869"}],"version-history":[{"count":8,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/posts\/869\/revisions"}],"predecessor-version":[{"id":1543,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/posts\/869\/revisions\/1543"}],"wp:attachment":[{"href":"https:\/\/thomaspalley.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}