Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324095 
Year of Publication: 
2023
Citation: 
[Journal:] PSL Quarterly Review [ISSN:] 2037-3643 [Volume:] 76 [Issue:] 307 [Year:] 2023 [Pages:] 337-351
Publisher: 
Associazione Economia civile, Rome
Abstract: 
The objective of the present article is to analyse the elements proposed by Celso Furtado regarding the process of overcoming underdevelopment - before and after "industrial civilization" - and to determine whether such attributes can characterize him as a neo(post)-Kaleckian. To accomplish this objective, we will carry out a detailed analysis of growth patterns led by profits and wages based on the neo-Kaleckian literature. The relationship between income distribution, demand, and capital accumulation was always present in Furtado's analyses, even before these approaches were formalised theoretically. This analysis is important to understand two main points of Furtado's thought: i) the reason for Furtado's emphasis on distributive conflict as an engine of structural transformations and, in turn, as a driver of economic development; ii) the challenges imposed over underdeveloped economies in the face of a new world economic order, based on the increase in dependency relations as a result of the huge capital flows in the form of foreign direct investment of developed economies in underdeveloped regions.
Subjects: 
Celso Furtado
income distribution
neo(post)-Kaleckian theory
JEL: 
B2
B5
D3
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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