It is indeed paradoxical that, while the apologists of capi… - Michał Kalecki

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It is indeed paradoxical that, while the apologists of capitalism usually consider the 'price mechanism' to be the great advantage of the capitalist system, price flexibility proves to be a characteristic feature of the socialist economy.

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

Armaments and wars, usually financed by budget deficits, are also a source of this kind of profits.

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

It is indeed paradoxical that, while the apologists of capitalism usually consider the 'price mechanism' to be the great advantage of the capitalist … - Michał Kalecki

About Michał Kalecki

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