Towards a Demand Model to Reduce Accumulation: Evidence from Ecuador

Authors

  • Marcelo Varela Enriquez

DOI:

https://doi.org/10.19275/RSEP189

Keywords:

Demand Model, Neoliberalism, Accumulation, Ecuador

Abstract

The present work analyzes the theoretical differences in the understanding of macroeconomics, starting from confronting the supply approach (neoclassical-neoliberal) with the demand approach (Keynesian-Post-Keynesian-Kaleckian) that allows generating a demand model to confront accumulation. and neoliberalism for the Ecuadorian case. In this sense, the objective of the research will be to determine the theoretical conditions of a demand model with a comparison of economic and social results compared to the application of free market or free competition economic policies, carried out in Ecuador in the period 2000 - 2023. The methodology used is a descriptive analysis based on variables and relationships between variables that allows determining the accumulation process, and the application of two economic models in Ecuador in the dollarization period (2000-2023): The first model economic, neoclassical-neoliberal applied in the periods 2000-2006 and 2018-2023, and the second model applied in the period 2007-2017. The results show the existing relationships between variables that determine a greater or lesser distribution under different accumulation conditions, added to theoretical conditions analyzed. Given these results, a Kaleckian demand model is proposed to address these disparities that have occurred in Ecuador.

References

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Published

2024-12-03

Issue

Vol. 9 No. 2 (2024): Review of Socio-Economic Perspectives

Section

Research Articles

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