In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes. - Michał Kalecki

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In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes.

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About Michał Kalecki

Michal Kalecki (June 22, 1899, in Łódź – April 18, 1970, in Warsaw) was a Polish Marxist economist who specialized in macroeconomics of a broadly-defined Keynesian sort. Over the course of his life, Kalecki worked at the London School of Economics, University of Cambridge, University of Oxford and Warsaw School of Economics as well as an economic advisor to governments of Cuba, Israel, Mexico and India.

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Additional quotes by Michał Kalecki

It may thus be concluded that in the absence of 'development factors' the system lapses into a stationary state. These factors thus appear to be a prerequisite of a steady growth.

It is the export surplus and the budget deficit which enable the capitalists to make profits over and above their own purchases of goods and services.
The connection between 'external' profits and imperialism is obvious.

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