Abstract

MORILLO-MARTINEZ, Oscar Esteban. The Political Economy of Economic Growth: The Fundamental Instability and the Case of the Sraffian Supermultiplier. Rev.econ.inst. [online]. 2023, vol.25, n.49, pp.189-212.  Epub Nov 04, 2023. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v25n49.09.

In this paper, we develop the idea of the Sraffian Supermultiplier, presenting it as an alternative to traditional neoclassical thought about economic growth and economic policy. Thus, a brief introduction is made about the importance of economic growth for classical economists, followed by the development of Harrod's model and the different solutions that have raised for sorting the problem of instability. Finally, we present the supermultiplier model of Serrano together with international empirical evidence that supports it and some proposals of economic policy are made.

JEL: B51, E11, F43

Keywords : Sraffa; Classical economists; Harrod; Economic growth; Political Economy.

        · abstract in Spanish | Portuguese     · text in Spanish     · Spanish ( pdf )