economic kaleckiańska

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Kaleckian economics - is the theory of the Polish economist Michał Kalecki, based on the widely understood Keynesian tradition, but referring to the Marxist tradition. This factor, as well as other clearly different aspects of John M. Keynes's theory, allowed to distinguish Kaltenian economics as one of the post-Keynesian schools.

The basic element of Kalecki's theory (like J.M. Keynes) is the principle of effective demand and the overriding role of investment in profit generation and business cycle. Unlike Keynes, drawing attention to the changes in production, Kalecki focuses on capitalist changes and the importance of dividing income between social classes.

Kalecki, more than Keynes, saw the factors influencing investment decisions. While Keynes exposed the importance of uncertainty and money, Kalecki drew attention to the actual current yield and cost of obtaining credit.

Kalecki built a macroeconomic model explaining the causes of mass unemployment in the 1930s by including in the analysis elements of the monopoly. Also worth mentioning is its so-called. Classical business cycle theory and analysis of the pricing process. Kalecki emphasized that the contradiction between the demand and supply effects of capital expenditures leading to cyclical fluctuations is due to an increase in the degree of monopoly of the economy and the share of income attributable to profits.

Kalecki's contribution to price theory was also original. In addition to the price demanded by demand, prices have been included in the cost overhead set by the degree of monopolization.

Source:

wiki

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