Political aspects on economic development: a kaleckian-structuralist perspective

This article reconsiders economic development from a Kaleckian perspective, highlighting how supply-side structural constraints—shaped by political factors affecting income distribution—undermine aggregate demand in developing economies. While Kalecki is known for linking income distribution to effective demand, this study emphasizes that persistent underdevelopment must be understood through the political economy interactions among public, private, and external sectors. By engaging Kalecki with Latin American structuralism, the article offers a theoretical reassessment of development, critiquing early Anglo-Saxon structuralist approaches for neglecting the political roots of structural bottlenecks. The proposed Kaleckian–Structuralist framework integrates political economy and structural dynamics as core components for analyzing development through its political dimension.