1st Edition

Kalecki and Kaleckian Economics Understanding the Economics of Michał Kalecki and His Legacy after 50 Years

    192 Pages
    by Routledge

    192 Pages
    by Routledge

    This book helps in pushing forward a Kaleckian research agenda that is even more urgent given the 2007-2009 financial crisis and the current post-COVID recovery. Michał Kalecki was a leading heterodox economist, whose influence in the field perhaps even surpasses that of Keynes. Kalecki’s insights are even more relevant today, and scholars are encouraged to apply his conclusions to ensure the sustainability of our economic systems.

    This edited volume, honouring the work of Michał Kalecki, includes chapters contributed by celebrated Kaleckian economists. In honour of the 50th anniversary of his demise, the Review of Political Economy (ROPE) and Edward Lipiński Foundation hosted a conference in September 2020 to celebrate his contribution to heterodox economics and his lasting legacy. These chapters, honouring the work of Michał Kalecki, span a panoply of topics and include a personal note from one of his former students and friend, and cover topics such as Kalecki’s relationship with the Cantabrigians, labour economics, fiscal policy, income distribution, gender, finance, debt, and democracy.

    The chapters in this book were originally published as a special issue of the journal Review of Political Economy.

    Introduction: Kalecki and Kaleckian Economics 
    Louis-Philippe Rochon, Marcin Czachor and Gracjan Bachurewicz 
    1. Remembering Kalecki: 22/05/1899–18/04/1970 
    Jerzy Osiatyński 
    2. Kalecki and Cambridge 
    Maria Cristina Marcuzzo 
    3. Overhead Labour Costs in a Neo-Kaleckian Growth Model with Autonomous Non-Capacity Creating Expenditures 
    Marc Lavoie and Won Jun Nah 
    4. Reforming Capitalist Democracies: Which Way? 
    Amit Bhaduri 
    5. Kalecki on Budget Deficits and the Possibilities for Full Employment 
    Malcolm Sawyer 
    6. The Eurozone in Crisis — A Kaleckian Macroeconomic Regime and Policy Perspective 
    Eckhard Hein and Judith Martschin 
    7. The Relevance of Kalecki for Financial Capitalism of the 2020s 
    Jerzy Osiatyński 
    8. Debt Management and the Fiscal Balance 
    Jan Toporowski 
    9. Kalecki and Marx Reconnected 
    Peter Kriesler and Joseph Halevi 
    10. Personal Income Distribution and Progressive Taxation in a Neo-Kaleckian Model: Insights from the Italian Case 
    Maria Cristina Barbieri Góes 
    11. Gender Issues in Kaleckian Distribution and Growth Models: On the Macroeconomics of the Gender Wage Gap 
    Eckhard Hein 


    Louis-Philippe Rochon is Full Professor of Economics at Laurentian University, Canada, where he has been teaching since 2004. He is the editor-in-chief of the Review of Political Economy. He is the founding editor (now emeritus) of the Review of Keynesian Economics. He is widely published in post-Keynesian economics, and monetary theory and policy. He has been a visiting professor in over a dozen universities around the world.

    Marcin Czachor is Attorney-at-law, the founder of Heterodox Publishing House, and co-founder of the Edward Lipiński Foundation for promoting pluralism in economics.

    Gracjan Robert Bachurewicz is President of the Edward Lipiński Foundation’s Council. He is a PhD Candidate and teaching assistant at the Department of Banking and Financial Markets at the University of Warsaw.