ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Capital Accumulation in Chile and Latin America

Capital Accumulation in Chile and Latin America Michel Chossudovsky Keynesian theorists would presumably analyse the Chilean recession in terms of a "drastic decline in aggregate demand". While Keynesian economics contains a theory of underconsumption, the relationship between underconsumption, income disirihution and class structure is absent. In this paper we intend to focus on this triangular relationship and more specifically on the contradiction between underconsumption and realisation of economic surplus.

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