Aggregate demand is influenced by the functional distribution of income of an economy and that of its trading partner. The relationship between income distribution and output is analysed in a short-run, two-country neo-Kaleckian model. The effects of devaluation and redistribution are discussed in detail. Trade and redistribution within one country interact and output increases or decreases…

The paper adopts a novel career perspective to examine theories of corporate control in the context of executive pay. Detailed career histories of boardroom executives in all FTSE 350 companies between 1996 and 2008 are utilised. The paper highlights the failure of existing arrangements to adjust pay outcomes where career performance is poor. The leading theoretical reasons for this disconn…

We explore four decades of cyclical and long-run dynamics in income distribution and economic activity for a panel of 13 OECD countries, as measured by the wage share and output gap. When modeled as predator�prey dynamics, economic activity in OECD countries is weakly profit-led. Convergence to a long-run equilibrium is relatively slow delaying the profit-squeeze stage for many years. …

We present a Kaldor�Thirlwall theoretical and empirical framework on the basic driving forces of the behaviour of productivity and economic development in the long run. By calculating the so-called Thirlwall equation, the main contribution of our research is to examine whether Brazil has been catching up or falling behind. We show some empirical evidence based on both descriptive stati…

This article argues, using the example of Brazil, that the changing nature of developing and emerging countries� (DECs) financial integration has created new forms of external vulnerability, causing large and volatile capital and exchange rate movements. Despite sound fundamentals and a substantial reduction in its traditional external vulnerabilities, the Brazilian real has been one o…

This articles studies the relationship between inflation and GDP growth after trade and financial liberalisation in Brazil. The aim is to provide an explanation for the inverse relationship between economic growth and inflation verified in this economy in the considered period. Tradeable and non-tradeable inflation experiences are studied separately for this purpose. The article suggests a …

Stratification economics represents an important new approach devoted to explaining economic inequality in terms of how social groups are separated or stratified according to relative group status. This paper combines stratification economics with identity economics to address complications that the phenomenon of intersectionality� people having multiple social group identities�cr…

Since climate change threatens human well-being across the globe and into the future, we require a concept of well-being that encompasses an equivalent ambit. This article argues that only a concept of human need can do the work required. It compares need theory with three alternative approaches. Preference satisfaction theory is criticised on the grounds of subjectivity, epistemic irration…

Diagnoses of the 2008 financial crisis have invoked arguments involving real sector developments that, though much debated in the 1930s, had largely disappeared from the literature in recent decades. Prompted by these revivals, the present study re-examines an inter-war conviction that the Depression had its origins in uneven technological progress and monopolistic competition. Effectively …

The aim of this paper is to investigate whether Brazil�s financial system has a differentiated strategy in space. The analysis is based on the theory of liquidity preference, regionally differentiated. In addition, it assumes that the banking strategies are associated with centrality, as defined in Christ�ller�s central place theory. The analysis used indicators of 2,924 citi…