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Author
Osiatyński Jerzy (Polska Akademia Nauk)
Title
Kalecki - a Pioneer of Modern Macroeconomics
Source
Economics and Business Review, 2017, vol. 3 (17), nr 3, s. 7-31, bibliogr. 41 poz.
Keyword
Zatrudnienie, Ustrój kapitalistyczny, Keynesizm, Keynesowska teoria zatrudnienia, Postkeynesizm, Gospodarka kapitalistyczna, Makroekonomia
Employment, Capitalist system, Keynesian theory, Keynesian employment theory, Post-Keynesian economics, Capitalist economy, Macroeconomics
Note
JEL Classification: E12, B22, E32 E23
summ.
Kalecki Michał
Abstract
The purpose of this study is to vindicate the position of Michał Kalecki as a pioneer of modern macroeconomics whose numerous papers in 1929-1933 laid foundations for what is presently known as the macroeconomic stock-flow consistent approach in examining the economic dynamics of a capitalist economy. Comparative economic analysis is used to define the critical differences between Kalecki's microassumption and his macro-analysis and policy recommendations against those of his contemporary, and the present-day mainstream economics. Following a concise intellectual biography note, Kalecki's mechanism of business fluctuations, and then his theory of distribution of national income are examined. Next his theory of profits is discussed, and his theory of effective demand which follows from it. This discussion culminates in outlining his theory of economic dynamics of a capitalist economy. In conclusion the present day relevance of Kalecki's macroeconomics and its limitations are examined. (original abstract)
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The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
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Bibliography
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ISSN
2392-1641
Language
eng
URI / DOI
http://dx.doi.org/10.18559/ebr.2017.3.2
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