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" "[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.
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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