Uncertainty and the Economy of Exclusion: Insights from Post‐Keynesian Institutionalism

Uncertainty and the Economy of Exclusion: Insights from Post‐Keynesian Institutionalism

Critics of Pope Francis’s Evangelii gaudium argue that recent economic growth and reductions in inequality are evidence that his notion of the “economy of exclusion” is misguided. However, Francis alludes to another type of exclusion—increased uncertainty generated by technological change that affec...

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Bibliographic Details
Published in:The American journal of economics and sociology Vol. 78; no. 4; pp. 955 - 972
Main Author: Zalewski, David A.
Format: Journal Article
Language:English
Published: New York Blackwell Publishing Ltd 01-09-2019
Subjects:
Capitalism
Citizens
Developed countries
Economic growth
Grass roots movement
Inequality
Institutionalism
Institutionalization
Keynesian theory
Technological change
Uncertainty
Online Access:Get full text
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Summary:Critics of Pope Francis’s Evangelii gaudium argue that recent economic growth and reductions in inequality are evidence that his notion of the “economy of exclusion” is misguided. However, Francis alludes to another type of exclusion—increased uncertainty generated by technological change that affects citizens even in developed nations. Drawing from Post‐Keynesian institutionalist theory, this article argues that this condition is common in capitalism, and that grassroots reforms are needed to ensure shared prosperity.
ISSN:0002-9246
1536-7150
DOI:10.1111/ajes.12291