This paper compares Kalecki's ideas on the economic structure of developed and developing countries. Kalecki highlighted the different role that aggregate demand and supply constraints played on both kinds of country. In rich countries output was determined by demand, while in developing societies production was subject to bottlenecks in the food and external sectors. This difference also had implications for economic growth and (income) distribution. Nevertheless, one should not interpret Kalecki's theory simply in terms of different "closures", since his analysis goes well beyond, incorporating differences in class politics and the structure of the State, both of which are reviewed in this paper. The Kaleckian politico-economic approach offers a useful starting point to analyze the differences between both kinds of countries, but requires adaptations to the global changes that have taken place over the last three decades. We should incorporate, in particular, the role of transnational corporations and financial institutions and the reduction in the importance of the agricultural bottleneck in many semi-industrialized countries.
