Kalecki and the structuralist view of economic development

The upcoming WHAM seminar will be given by Professor Jan Toporowski, who has recently retired as Professor of Economics and Finance at SOAS University of London

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Abstract:

This paper commemorates the 70th anniversary of Kalecki’s seminal lecture in Mexico on financing economic development. The first part of this paper outlines the theoretical model underlying Kalecki’s view of development financing. A second part of  the paper summarizes the foundations of structuralist development economics in the Prebisch-Singer approach to international trade and import-substitution development strategies. A third part of the paper examines the confrontation between Kalecki’s view of  economic development strategy, and the structuralist approach, in the case of Cuba, highlighting the differences between the two approaches. A fourth part concludes with some reflections on the relevance today of structuralism and Kalecki’s view of economic  development.

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