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
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?
5. Kalecki on Budget Deficits and the Possibilities for Full Employment
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
8. Debt Management and the Fiscal Balance
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