Hacia el cambio del paradigma económico a través de la experiencia de los países en desarrollo

Abstract

The objetive of this paper is to integrate the phenomenon of productive and external bottlenecks in the economic paradigm. The first section deals with the recessive inflation that appears when these bottlenecks lead to a regressive distribution of income and clash with the defense of real wages by the society. The second section deals with the chromic external bottlenecks of primary-exporting countries in process of industrialization, their cumulative indebtedness, stop-and-go cycles and conflicts about income distribution, solved through the aforementioned recessive inflation. Also an economic policy, aimed at compatibilizing external equilibrium with a reasonable income distribution and full employment, is outlined. The third section applies these concepts to the international inflation since 1972, to the present oil crisis and to the new inflationary- recessive cycles at a worldwide level.