Titlebook: Southeast Asia‘s Industrialization; Industrial Policy, C K. S. Jomo (Professor of Economics) Book 2001 Palgrave Macmillan, a division of Ma

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o exogenous shocks. Pushing momentarily into the background the demonstration of the intrinsic instability of capitalist economies, he thus centred his efforts on the explanation outlined in the conclusion of his 1934 article “Three Systems” (Kalecki 1934a [1990]).

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Anne Booth the story of ‘wage-led versus profit-led growth’ and for the various tax paradoxes related to the Kaleckian profit equation. (2) We argue that an excess of desired long-term saving over investment, which might be caused by demographic ageing in Western economies, can only be eliminated by accepting

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