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

[C]apitalist savings 'lead' profits. This result may appear paradoxical. 'Common sense' would suggest the opposite sequence—namely, that savings are determined by profits. This, how ever is not the case.

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

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

Works in ChatGPT, Claude, or Any AI

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