Michal Kalecki

Michal Kalecki

Born: 1899. Died: 1970.

Biography

In his lifetime, Michal Kalecki was one of the unsung heroes of macroeconomics - and a potent lesson in why, in economics, one should always publish in English. Although Kalecki claimed to have anticipated much of the principles stated in Keynes's General Theory, his articles (1933, 1935) were published in Polish and French and thus went unrecognized. Attempting to rectify this, Kalecki decided to publish a claim of precendence to Keynes in a 1936 article - but in Polish again!

Michal Kalecki's work in English, notably on business cycles (1935, 1937, 1939, 1943, 1954), however, introduced him in his own stead and was notable in its advancement of the use of mathematical dynamics in economics. His work also incorporated several Classical and Marxian concepts, relying to a good extent on 'class conflict', income distribution and imperfect competition - items which would inspire the Cambridge Keynesians - particularly Joan Robinson, Nicholas Kaldor and Richard Goodwin - as well as modern American Post Keynesian economics.

Kalecki worked at the Institute of Business Cycles and Prices in Warsaw for much of his life.

Major Books of Michal Kalecki

- An Essay on the Theory of the Business Cycle, 1933
- Essays in the Theory of Economic Fluctuations, 1939
- Essays on Developing Economies, 1976
- The Last Phase in the Transformation of Capitalism, 1972
- Selected Essays on the Dynamics of the Capitalist Economy, 1933-1970, 1971
- Selected Essays on the Economic Growth of the Socialist and the Mixed Economy, 1972
- Studies in Economic Dynamics, 1943
- Studies in the Theory of Business Cycles, 1933-1939, 1966
- Theory of Economic Dynamics: An Essay on Cyclical and Long-Run Changes in Capitalist Economy, 1954
- Three Ways to Full Employment, 1944 in Economics of Full Employment

Major Articles of Michal Kalecki

- 1932, Mr Keynes's Predictions, Przeglad Socjialistyczny
- 1935, Essai d'une theorie du mouvement cyclique des affaires, Revue d'Economie Politique
- 1935, A Macrodynamic Theory of Business Cycles, Econometrica
- 1935, The Mechanism of Business Upswing, Polska Gospodarcza
- 1936, Some Remarks on Keynes's Theory, Ekonomista
- 1937, A Theory of the Business Cycle, RES
- 1937, A Theory of Commodity, Income and Capital Taxation, EJ
- 1937, The Principle of Increasing Risk, Economica
- 1938, The Determinants of Distribution of the National Income, Econometrica
- 1938, The Lesson of the Blum Experiment, EJ
- 1940, A New Method of Trend Elimination, with B. Tew, Econometrica
- 1940, The Short-Term Rate and the Long-Term Rate, OEP
- 1940, The Supply Curve of an Industry under Imperfect Competition, RES
- 1941, A Theorem on Technical Progress, RES
- 1941, A Theory of Long-Run Distribution of the Product of Industry, OEP
- 1941, The Short-Term Rate of Interest and the Velocity of Cash Circulation, REStat
- 1942, A Theory of Profits, EJ
- 1943, Political Aspects of Full Employment, PQ
- 1944, Professor Pigou on the Classical Stationary State, EJ
- 1945, Full Employment by Stimulating Private Investment?, OEP
- 1945, On the Gibrat Distribution, Econometrica
- 1949-1950, A New Approach to the Problem of Business Cycles, RES
- 1950, A Note on Long Run Unemployment, RES
- 1962, Observations on the Theory of Growth, EJ
- 1967, The Problem of Effective Demand with Tugan-Baranovski and Rosa Luxemburg, Ekonomista
- 1968, The Marxian Equations of Reproduction and Modern Economics, Social Science Information
- 1968, Trend and the Business Cycles Reconsidered, EJ
- 1971, Class Struggle and the Distribution of National Income, Kyklos

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