Year: 2024
Type: article
Abstract: The present work provides a detailed investigation of how the Sraffian Supermultiplier (hereafter SSM) was developed, and the critiques around the theme. The theory initially presented by Serrano in 1995 and linked to the neo-Kaleckian approach by Lavoie (2015), was essentially based on the works of Sraffa and Garegnani. According to the last mentioned paper, the model is supported by autonomous consumption delivered from the rentiers side, which drives capacity utilization to its normal level. Therefore, authors such as Skott, Oreiro, and others, pointed out that this assumption does not fit the literature. In this vein, our investigation works on the historical development of the theory showing the evolution of the Supermultiplier in an international and Brazilian debate.
DOI: 10.5209/ijhe.97551
Author: João Gabriel De Araujo Oliveira
Institution: Universidade de Brasília
Language: English
Topic: Economic Theory and Policy
Domain: Social Sciences
Open Access status: diamond
Funder: Universidade Estadual Paulista
OpenAlex ID: W4405645158