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This volume of intellectual biography takes the Polish economist Micha Kalecki (1899-1970) from the shattering of his prosperous childhood, in Tsarist Łódź in the 1905 Revolution, to Cambridge and the failure of his co-operative research with John Maynard Keynes's supporters in Cambridge.
Rosa Luxemburg, Oskar Lange and Michal Kalecki made important contributions to twentieth century political economy that guided the thinking of their student Tadeusz Kowalik. These contributions are re-examined by renowned economists, highlighting the common themes in their political economy and the neglected aspects of their work.
This volume of intellectual biography takes the Polish economist Micha Kalecki (1899-1970) from the shattering of his prosperous childhood, in Tsarist Łódź in the 1905 Revolution, to Cambridge and the failure of his co-operative research with John Maynard Keynes's supporters in Cambridge.
Kalecki was one of an important generation of Cambridge economists. Here, Tracy Mott's impressive book examines the relationship of Kalecki's economics to different economic areas and its relationship to major alternative schools, such as Keynes and Marx. Mott looks at Kalecki's 'principle of increasing risk' and how it gives the way in which the reproduction and expansion of wealth can bring a coherent unity to economic analysis. In so doing, it makes sense out of the fundamental conclusions of Keynesian economics on the underemployment of labour and capital.
Michael Kalecki is thought by many to be the true standard bearer of theories of mixed economy, and it can be argued that John Maynard Keynes stole his crown undeservedly. Kaleckian ideas are becoming more and more influential.
The seven volumes will comprise the definitive scholarly edition of the works of Micha/l Kalecki, one of the most distinguished of twentieth-century economists and one of the trio who arrived at the conclusions promulgated by Keynes around the same time as - and in Kalecki's case, arguably earlier than - Keynes himself. Nearly half the material to appear in the seven volumes has never been previously published in English and includes revisions and additions made in the light of recent research, including information about the relationship of Kalecki's ideas to the ideas of contemporary economic theory. This volume deals with the capitalist economy and contains Kalecki's studies on the theory of income distribution in oligopolistic capitalism and on its economic dynamics. Each part of the book consists of essays devoted to a similar topic and individual papers in each part are arranged in chronological order. The editorial comments and annexes at the end of the volume, besides giving valuable information on the background to the main texts, include illuminating exchanges of correspondence between Kalecki and Keynes, Joan Robinson, and others.
lE. King Michael Kalecki (1899-1970) was one of the most important, and also one of the most underrated, economists of the twentieth century. In the 1930s he made a series of fundamental contributions to macroeconomic theory which anticipated, complemented and in some ways surpassed those of Keynes. Almost entirely self-educated in economics, and influenced rul much by Marxism as by mainstream theory, Kalecki very largely escaped the fatal embrace of pre-Keynesian orthodoxy, which blunted the thrust of the General Theory. Many Post Keynesians, in particular, have found in his work the elements of a convincing alternative to what Joan Robinson -Kalecki's greatest advocate in the English-speaking world - was scathingly to describe as 'bastard Keynesianism' . But Kalecki was never interested in theory for its own sake. He approached economics from a practical perspective, wrote extensively on applied and policy questions, and in the [mal decades of his life turned his attention increasingly to problems of economic development and the management of state socialist economies.