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A critical evaluation of some Kaleckian proposals to deal with the issue of convergence towards normal capacity utilization
Review of Keynesian Economics ( IF 1.8 ) Pub Date : 2020-07-21 , DOI: 10.4337/roke.2020.03.06
Guilherme Haluska 1
Affiliation  

It is a well-established result of Kaleckian models in which output growth is led by investment expenditures that capacity utilization is endogenous and positively related to the growth rate of output, and that attempts by capitalists to adjust productive capacity to demand might trigger Harrodian instability. This motivated several theoretical proposals by some Kaleckian authors in order to deal with the issue of convergence to normal utilization. Our purpose in this article is to rescue the concepts of competition, the determinants of normal capacity utilization, and the relation between normal prices, normal utilization, and normal profits, according to the classical surplus approach – and more specifically the ideas presented by Ciccone (1986; 1987; 2011) – in order to discuss critically the proposals developed by the Kaleckians in the light of this theoretical background. Our main point is that most of these proposals seem to have ignored some of these concepts from the classical surplus approach, adopting (explicitly or implicitly) some hypotheses that are in contradiction to the concepts of competition and to the determinants of normal utilization presented here – and in some cases have even modified the concept of normal utilization itself. Classification‐JEL: E32

中文翻译:

对处理向正常产能利用趋同问题的一些卡莱克提议的批判性评估

这是 Kaleckian 模型的一个公认的结果,其中产出增长由投资支出引导,产能利用率是内生的,与产出增长率正相关,资本家试图根据需求调整生产能力可能会引发哈罗德不稳定性。这激发了一些 Kaleckian 作者提出的一些理论建议,以处理收敛到正常使用的问题。我们在这篇文章中的目的是根据经典的剩余方法——拯救竞争的概念、正常产能利用率的决定因素以及正常价格、正常利用率和正常利润之间的关系。更具体地说,是 Ciccone (1986; 1987; 2011) ??? 为了批判性地讨论 Kaleckians 根据这一理论背景提出的建议。我们的主要观点是,这些提议中的大多数似乎忽略了经典剩余方法中的一些概念,采用(明确或隐含)一些与竞争概念和此处提出的正常利用的决定因素相矛盾的假设 – ???并且在某些情况下甚至修改了正常利用本身的概念。分类????JEL:E32 采用(显式或隐式)一些与竞争概念和此处提出的正常利用的决定因素相矛盾的假设????并且在某些情况下甚至修改了正常利用本身的概念。分类????JEL:E32 采用(显式或隐式)一些与竞争概念和此处提出的正常利用的决定因素相矛盾的假设????并且在某些情况下甚至修改了正常利用本身的概念。分类????JEL:E32
更新日期:2020-07-21
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