Friday December 19th, 2014, 8:35 pm (EST)

Michal Kalecki

The Last Phase in the Transformation of Capitalism

The Last Phase in the Transformation of Capitalism

This volume includes six essays, the first dating from 1935 and the last from 1967, by one of the outstanding economists of our time. The economics presented in this volume is political economy worthy of the name: a discipline that shows us the social relations, in particular the class and group conflicts, behind the economic quantitative relations.… | more |

Theory of Economic Dynamics

Theory of Economic Dynamics

An Essay on Cyclical and Long-Run Changes in Capitalist Economy

In his Essays in the Theory of Business Cycle published in Polish in 1933, Kalecki clearly stated the principle of effective demand in mathematical form. By 1935 he outlined his theory of employment, demolished the then-orthodox remedy for a depression — that is, wage cutting — and pinpointed the importance of investment for economic dynamics.… | more |

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