Post-Keynesian Economic Thought in Mexico: Discussions on Economic Growth

This article analyses the development of post-Keynesian economic thought in Mexico, with a specific focus on the evolution of key debates concerning inflation and economic growth. These controversies, central to Mexico’s economic trajectory, highlight the persistent tension between monetarist and developmentalist approaches. Monetarists and financiers emphasised high economic growth with stable prices, often overlooking the necessity of dynamic and long-term economic development. This created a false dilemma between economic growth and financial stability. Conversely, prominent Mexican figures associated with Keynes, Kalecki, and post-Keynesians intervened in these debates, giving rise to a developmentalist stream of thought that created several Mexican post-Keynesian groups in the 1960s and 1970s. Later, these groups became situated within the main public universities, where they criticise the neoliberal agenda and propose alternative economic policies. The primary focus of these discussions consistently revolved around the interplay between economic growth and inflation, shaping the trajectory of Mexico’s heterodox economic discourse.