Kalecki's Economics Today

Kalecki's Economics Today

Kalecki's Economics Today

Kalecki's Economics Today

Synopsis

Michael Kalecki is thought by many to be the true standard bearer of theories of mixed economy, and it can be argued that John Maynard Keynes stole his crown undeservedly. Kaleckian ideas are becoming more and more influential.

Excerpt

The chapters contained in this book were originally papers presented at the Conference in commemoration of the 100th anniversary of the birth of Michal Kalecki. The Conference was organized by the Polish Economic Society and took place in Warsaw, at the site of the Polish Academy of Sciences, on 27-8 September 1999. Some of the papers were revised before inclusion in this book. This is indicated whenever applicable.

Michal Kalecki was unquestionably one of the great economic minds of the twentieth century. The original idea of the Conference was to bring together an international group of renowned economists known for having devoted much of their academic work to the study of Kalecki's ideas related both to theory and policy, in order to arrive at an assessment of the relevance of these ideas to the modern world which changed so very significantly since his times. This presupposed taking up such issues as that of the role of financial markets and of liberalization of capital flows - the basic factors which brought about substantial changes in the working of present day capitalism - with the purpose of trying to identify their influence on economic growth, unemployment and income distribution. Interestingly, in spite of the fact that such issues could not have been dealt with by Kalecki, as they emerged only after his death, the discussions at the conference revealed in Kalecki's theories much relevance for the world of today.

In preparing the book, the editors felt that it should make interesting reading to those willing to follow and compare the differing approaches of individual contributors, who all seem to consider themselves in a sense Kaleckians, but remain fully independent in their own thinking.

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