Neostructuralism and Heterodox Thinking in Latin America and the Caribbean in the Early Twenty-First Century

image of Neostructuralism and Heterodox Thinking in Latin America and the Caribbean in the Early Twenty-First Century
Neostructuralism delves more deeply into the issues addressed in structuralism, aiming to improve positioning in the international economy, boost productive employment creation, reduce structural heterogeneity and improve income distribution, while maintaining financial balances capable of sustaining changes in the sphere of production by means of social and State support. Far from being an insular system of thinking, neostructuralism is an open system that lends itself to dialogue with other philosophies that recognize the limitations of the dominant paradigm and object to its methodological monism. This book offers a fresh look at neostructuralism and heterodox thinking at the start of the twenty-first century. In a context shaped by the impacts of the worst economic and financial crisis since the Great Depression and by paradigmatic changes at the global level, it aims to carve out arenas for discussion between alternative lines of thinking in order to lay the foundations for a socioeconomically inclusive and environmentally sustainable model of development for the region.

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Towards a Robinsonian interpretation of capital accumulation in Latin America

The implementation of countercyclical macroeconomic policies in many countries of Latin America in response to the international financial crisis of 2008-2009 (ECLAC, 2012) coincided with something of a revival in short-term Keynesian macroeconomic policies, but this did not extend to the adoption of policies informed by long-term Keynesian or post-Keynesian thinking. This is particularly evident in the case of Joan Robinson’s contributions. The lack of mathematical formalization in the original model put forward by Robinson has, along with the sheer diversity of the formalizations proposed by numerous academics, been regarded as one of its weaknesses (Skott, 2004) or one of the factors militating against its use (Backhouse, 2003).

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