Comparative analysis of different heterodox interpretations about the end of the “Golden Age” of Western capitalism

Vol. 45 No. 1 (2025)

Jan-Mar / 2025
Published December 27, 2024
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PDF-English

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Barros, Luciano Alencar, and Carlos Pinkusfeld Bastos. 2024. “Comparative Analysis of Different Heterodox Interpretations about the End of the ‘Golden Age’ of Western Capitalism”. Brazilian Journal of Political Economy 45 (1):144-63. https://doi.org/10.1590/0101-31572025-3654.
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Comparative analysis of different heterodox interpretations about the end of the “Golden Age” of Western capitalism

Luciano Alencar Barros
Temporary Professor at the Institute of Economics of the Federal University of Rio de Janeiro (IE/ UFRJ) and researcher at the Institute of Social and Political Studies of the State University of Rio de Janeiro (IESP/UERJ), Rio de Janeiro/RJ, Brazil.
Carlos Pinkusfeld Bastos
Associate Professor at the Institute of Economics of the Federal University of Rio de Janeiro (IE/ UFRJ), Rio de Janeiro/RJ, Brazil.
Brazilian Journal of Political Economy, Vol. 45 No. 1 (2025), Jan-Mar / 2025, Pages 144-163

Abstract

This paper aims to contribute to the understanding, in the field of heterodoxy, of
the end of the Golden Age of Western capitalism. In this regard, this object is examined
through a comparative analysis of three different theoretical approaches, which have in common
the adoption of the Principle of Effective Demand and the influence of Marx’s framework:
the regulation school and the neo-Kaleckian and Sraffian approaches.

JEL Classification: B22; E11; P16.


Keywords: Golden Age political economy Kalecki regulation school Sraffa