O endividamento do consumidor no cerne do capitalismo conduzido pelas finanças

Guttmann, Robert; Plihon, Dominique

doi:10.1590/s0104-06182008000400004

Cited by 15 publications

(28 citation statements)

References 11 publications

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“…In the next subsection, we deal with these recent supermultiplier growth models and how they still need to add some financial complexity to the economic framework to do justice to the post-Keynesian debate about the roles of money and finance on the 7 The recent U.S. experience suggests that consumption, for instance, can autonomously grow in relation to current income to a large extent and for a considerable period of time (Guttmann and Plihon, 2008;Cynamon and Fazzari, 2008;Barba and Pivetti, 2008;Bibow, 2010;Lavoie, 2014;Allain, 2014). The "funding effect" (see Brown, 2007) of some institutional arrangements put forward by financial innovation, as well as consumer credit with real estate collateral, are good examples of how consumption can grow independently of current income growth.…”

Section: Heterodox Demand-led Growth Modelsmentioning

confidence: 99%

A supermultiplier Stock-Flow Consistent model: the “return” of the paradoxes of thrift and costs in the long run?

Brochier

Silva

2018

Cambridge Journal of Economics

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Supermultiplier models have been recently brought to the post-Keynesian debate. Yet these models still rely on quite simple economic assumptions, being mostly flow models which omit the financial determinants of autonomous expenditures. Since the output growth rate converges in the long run to the exogenously given growth rate of "non-capacity creating" autonomous expenditure and the utilization rate moves towards the normal utilization rate, the paradoxes of thrift and costs remain valid only as level effects (average growth rates). This paper investigates whether the core conclusions of supermultiplier models hold in a more complex economic framework, described by means of a supermultiplier SFC model, in which private business investment is assumed to be completely induced by income while the autonomous expenditure component-in this case consumption out of wealth-becomes endogenous. The results of the numerical simulation experiments suggest that the paradox of thrift can remain valid in terms of growth effects and that a lower profit share can also be associated to a higher accumulation rate, though with a lower profit rate.

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Section: Heterodox Demand-led Growth Modelsmentioning

confidence: 99%

A supermultiplier Stock-Flow Consistent model: the “return” of the paradoxes of thrift and costs in the long run?

Brochier

Silva

2018

Cambridge Journal of Economics

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“…The US recent experience suggests consumption can grow autonomously from current income to a high degree, at least for a while (GUTTMANN; PLIHON, 2008;CYNAMON;FAZZARI, 2008;BARBA;PIVETTI, 2009;BIBOW, 2010;LA-VOIE, 2013). The "funding effect" (see BROWN, 2007) of some institutional arrangements provided by financial innovation, as the consumer credit backed by housing collateral, is a good example of how consumption can grow independently of current income growth; and the keeping up with the Joneses is one of the demand motivation for the deb-led consumption surge and development.…”

Section: Autonomous Consumption As a Source Of Demand Growthmentioning

confidence: 99%

The Macroeconomic Implications of Consumption: State-of-Art and Prospects for the Heterodox Future Research

Brochier¹,

Silva

2017

RAE

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Abstract:The recent US economic scenario has motivated a series of heterodox papers concerned with household indebtedness and consumption. Though discussing autonomous consumption, most of the theoretical papers rely on private investmentled growth models. An alternative approach is the so-called Sraffian supermultipler model, which treats long-run investment as induced, allowing for the possibility that other final demand components -including consumption -may lead long-run growth. We suggest that the dialogue between these approaches is not only possible but may prove to be quite fruitful.Keywords: Consumption. Household debt. Growth theories. Autonomous expenditures.Resumo: O cenário econômico recente dos Estados Unidos motivou uma série de artigos de cunho heterodoxo preocupados com o endividamento das famílias e com o consumo. Apesar de discutirem o consumo autônomo, a maioria dos artigos teóricos se baseia em modelos de crescimento liderado pelo investimento privado. Uma abordagem alternativa é a do chamado supermultiplicador "sraffiano", que aborda o investimento de longo prazo como induzido, permitindo que outros componentes da demanda final -incluindo o consumo -possam assumir a liderança do crescimento de longo prazo. Sugerimos que o diálogo entre essas abordagens não é apenas possível, mas pode se mostrar muito frutífero.Palavras-chave: Consumo. Endividamento do consumidor. Teorias de crescimento. Gastos autônomos.

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“…Assim, além de contribuir para a recuperação econômica americana, tal sistema bancário seguro foi o pilar do boom do pós-guerra, pois pode financiar o rápido crescimento econômico. E aquilo que começou em uma relação entre bancos e Estados-governo, logo passou às empresas do setor privado e, então, às famílias (Guttmann & Plihon, 2008); para as últimas, a possibilidade da antecipação de recursos representou a elevação do poder de compra -e, em alguns casos, mesmo a garantia de meios de sobrevivência. Desse modo, acabou inaugurando-se uma nova maneira de se viver, descolando as práticas de consumo dos limites de renda.…”

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Estigma moral e sofrimento psi: problematizando a individualização do superendividamento do consumidor

Hennigen

Borges

2014

revispsi

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RESUMO Em face da ausência de estudos no campo da Psicologia Social sobre o tema, desenvolvemos uma pesquisa exploratória que objetivou conhecer as implicações subjetivas da situação de superendividamento do consumidor. Entrevistamos 24 consumidores que, estando nessa condição, aderiram a um projeto do judiciário gaúcho que propõe a conciliação paraprocessual com os credores; realizamos a análise do material obtido nas entrevistas em consonância com a metodologia da análise de discurso. Dois aspectos interligados que se evidenciaram-a individualização e a dimensão moralizante do superendividamento, que acarretam considerável sofrimento psíquico aos sujeitos-são discutidos e problematizados aqui a luz da perspectiva foucaultiana e das proposições de Nietzsche sobre a moral. Indicamos a necessidade de políticas públicas e estratégias de enfrentamento que considerem a complexidade da situação. Palavras-chaves: superendividamento, subjetivação, moral, consumo, crédito.

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O endividamento do consumidor no cerne do capitalismo conduzido pelas finanças

Cited by 15 publications

References 11 publications

A supermultiplier Stock-Flow Consistent model: the “return” of the paradoxes of thrift and costs in the long run?

A supermultiplier Stock-Flow Consistent model: the “return” of the paradoxes of thrift and costs in the long run?

The Macroeconomic Implications of Consumption: State-of-Art and Prospects for the Heterodox Future Research

Estigma moral e sofrimento psi: problematizando a individualização do superendividamento do consumidor

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