It may thus be concluded that in the absence of 'developmen… - Michał Kalecki

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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.

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

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

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

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 pr… - Michał Kalecki

About Michał Kalecki

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