Demand and growth regimes in finance-dominated capitalism and a progressive equality-, sustainability- and domestic demand-led alternative: A post-Keynesian simulation approach

Making use of a post-Keynesian/Kaleckian two-country stock-flow consistent (SFC) simulation model, we shed light on different regimes in modern finance-dominated capitalism, their interaction at the global scale, and then on the changes in regimes after the 2007-09 crises. Most importantly, we prese...

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Bibliographic Details
Published in:PSL quarterly review 2023-06, Vol.76 (305), p.181
Main Authors: Hein, Eckhard, Prante, Franz, Bramucci, Alessandro
Format: Article
Language:English
Subjects:
Capitalism
Consumption
Deregulation
Equality
Finance
Fiscal policy
Growth models
Income distribution
Inflation
International finance
Macroeconomics
Post-Keynesianism
Simulation
Social democracy
Sustainability
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Summary:Making use of a post-Keynesian/Kaleckian two-country stock-flow consistent (SFC) simulation model, we shed light on different regimes in modern finance-dominated capitalism, their interaction at the global scale, and then on the changes in regimes after the 2007-09 crises. Most importantly, we present the main features of a progressive and more stable equality-, sustainability- and domestic demand-led regime. We show that the main features of such a regime will have to focus on a ‘reformed capitalism’ with regulated finance, a more equal distribution of income and active government fiscal policies, as guide posts for progressive social democracy.
ISSN:2037-3635
2037-3643
DOI:10.13133/2037-3643/18211