Keynes-Kalecki framework holds that demand, in particular private investment, shapes short-term fluctuations as well as long-term growth, unlike orthodox approaches that see supply as determining long-term growth; shift towards inflation targeting coincided with falling wage shares and greater burden on workers
Keynes-Kalecki framework holds that demand, in particular private investment, shapes short-term fluctuations as well as long-term growth, unlike orthodox approaches that see supply as determining long-term growth; shift towards inflation targeting coincided with falling wage shares and greater burden on workers
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