In a sense the budget deficit can be considered as an artif… - Michał Kalecki

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In a sense the budget deficit can be considered as an artificial export surplus.

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 should be noticed that the whole approach is in contradiction to generally accepted views.

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".

In a sense the budget deficit can be considered as an artificial export surplus. - Michał Kalecki

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