The capitalists of a country which manages to capture forei… - Michał Kalecki

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The capitalists of a country which manages to capture foreign markets from other countries are able to increase their profits at the expense of the capitalists of the other countries. Similarly, a colonial metropolis may achieve an export surplus through investment in its dependencies.

Michał Kalecki

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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.

An increase in the number of paupers does not broaden the market.

Generally speaking, changes in the prices of finished goods are "cost determined" while changes in the prices of raw materials inclusive of primary foodstuffs are "demand determined".

The capitalists of a country which manages to capture foreign markets from other countries are able to increase their profits at the expense of the c… - Michał Kalecki

About Michał Kalecki

Additional quotes by Michał Kalecki