A KALDOR-HICKS-GOODWIN-TOBIN-KALECKI MODEL OF GROWTH AND DISTRIBUTION

摘要

This paper presents a Kaldorian model of growth that incorporates both Kaldor's theory of income distribution and his endogenous technical progress function. Growth is driven by demand-side forces that induce supply-side accommodation. The model incorporates Hicksian induced innovation; Goodwin Marxist style labor conflict that affects wage bill division between workers and managers; Tobin inflation effects; and Kalecki monopoly power effects. Unlike the neo-Kaleckian model, a Kaldorian economy operates at normal capacity utilization. Monopoly power plays a role as a barrier to entry rather than determining the functional distribution of income.