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

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

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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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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.

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