Autonomous Demand and the Harrodian Criticisms of the Kaleckian Model

Peter Skøtt

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Abstract

ABSTRACT Lavoie ( ) introduces autonomous demand in a defense of the (post‐) Kaleckian analysis against classical and Harrodian criticisms. This note corrects some errors in Lavoie's analysis, questions the stabilizing potential of autonomous demand, and points out some differences between the two variants of Lavoie's ‘neo‐Kaleckian’ model.

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References

2014Tackling the instability of growth: a Kaleckian-Harrodian model with an autonomous expenditure component 2015Convergence Towards the Normal Rate of Capacity Utilization in Neo‐ K aleckian Models: The Role of Non‐Capacity Creating Autonomous Expenditures 1989Conflict and Effective Demand in Economic Growth 2017Autonomous demand, Harrodian instability and the supply side

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2016Prototypes, Reality and the Growth Rate of Autonomous Consumption Expenditures: A Rejoinder 2018The Trouble with Harrod: The fundamental instability of the warranted rate in the light of the Sraffian Supermultiplier 2020Stability issues in Kaleckian models driven by autonomous demand growth—Harrodian instability and debt dynamics 2020Growth, investment share and the stability of the Sraffian Supermultiplier model in the U.S. economy (1985–2017)2021Housing is NOT ONLY the Business Cycle: A Luxemburg-Kalecki External Market Empirical Investigation for the United States 2018Some observations on models of growth and distribution with autonomous demand growth 2021A supermultiplier model of the natural rate of growth 2021Is autonomous demand really autonomous in the United States? An asymmetric frequency‐domain Granger causality approach

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