Foreign trade in the kaleckian perspective plan |
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Authors: | L Mainwaring |
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Institution: | 1. Department of Economics, University College, Cardiff, U.K.
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Abstract: | In Kalecki's outline for a perspective plan a distinction is drawn between demand-determined and supply-constrained industries. Foreign trade operates on a ‘vent-for-surplus’ principle whereby supply industries are run at full capacity and excess supplies (demands) are exported (imported). This policy is assessed using a simple two-sector model and is given only qualified support. Modifications to his plan procedure are accordingly suggested. |
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