Download e-book for iPad: An Alternative Macroeconomic Theory: The Kaleckian Model and by J. E. King (auth.), J. E. King (eds.)

By J. E. King (auth.), J. E. King (eds.)

ISBN-10: 9400918100

ISBN-13: 9789400918108

ISBN-10: 9401073066

ISBN-13: 9789401073066

lE. King Michael Kalecki (1899-1970) was once some of the most vital, and in addition probably the most underrated, economists of the 20 th century. within the Nineteen Thirties he made a chain of primary contributions to macroeconomic thought which expected, complemented and in many ways exceeded these of Keynes. nearly fullyyt self-educated in economics, and motivated rul a lot through Marxism as through mainstream concept, Kalecki very mostly escaped the deadly include of pre-Keynesian orthodoxy, which blunted the thrust of the final conception. Many publish Keynesians, particularly, have present in his paintings the weather of a powerful replacement to what Joan Robinson -Kalecki's maximum suggest within the English-speaking international - used to be scathingly to explain as 'bastard Keynesianism' . yet Kalecki was once by no means attracted to idea for its personal sake. He approached economics from a realistic point of view, wrote widely on utilized and coverage questions, and within the [mal many years of his existence became his awareness more and more to difficulties of financial improvement and the administration of nation socialist economies.

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I' Comparing the context ofKalecki's 'The Mechanism of the Business Upswing' to something published in Newsweek or the business section of the New rork Times is misleading. A comparison of the 1935 article with others published by Kalecki in professional journals at the same time reveals no differences in its degree of complexity, rigour or length. Further evidence that the context of the 1935 article differs greatly from that of a Newsweek article is given by the fact that Kalecki republished the article in translation in his 1966 Studies in the Theory of the Business Cycle, 1933 - 1939 and in his 1971 44 AN ALTERNATIVE MACROECONOMIC THEORY Selected Essays on the Dynamics ofthe Capitalist Economy, suggesting that he did not perceive any substantial difference (at least ex post) between the 1935 article and other 'professional' articles included in both books.

34 AN AL TERNATIVE MACROECONOMIC TIIEORY Rowthom, R 1981. 'Demand, Real Wages, and Economic Growth'. Thames Papers in Political Economy Autmnn: 1-39. Sardooi, C. (ed). 1992. C. Harcoul1. London Routledge. Sawyer, MC. 1982. Macroeconomics in Question: The Keynesian-Monetarist 011hodoxies and the Kalecldan Alternative. Brighton: Wheatsheaf Sawyer, MC. 1985. The Economics ofMichal Kalecld. 100000: Maanillan. Sawyer, MC. 1990. 'On the Post-Keynesian Tradition and Industrial Economics'. Review of Political Economy 2 (1), March: 43-68.

Professional and Non-Professional Publications Patinkin contends that for a message to be central it should be included in a scientist's professional writings, arguing that if scientists do not address their output to the scientific 42 AN ALTERNATIVE MACROECONOMIC THEORY community the ideas cannot be central to their work. Thus Patinkin proposes a two-step criterion along the following lines. First, detennine the central message of a piece. Second, establish whether the worlc was central to a scientist's concerns.

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An Alternative Macroeconomic Theory: The Kaleckian Model and Post-Keynesian Economics by J. E. King (auth.), J. E. King (eds.)

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