Collected Works of Michal Kalecki: Volume I. Capitalism: Business Cycles and Full EmploymentThis is the first volume in a new, definitive, seven-volume edition of the works of Michal Kalecki, one of the twentieth century's most distinguished economists. Kalecki was one of the three contemporary economists to arrive at the conclusions publicized by Keynes, although Kalecki arguably presented these views even earlier than Keynes. Volume I contains Kalecki's writings on the theory of the business cycle and full employment. His seminal Essay on the Business Cycle Theory is preceded by his earlier theoretical studies and followed by publications which developed and defended its main concepts and ideas. This volume also contains the 1939 book Essays in the Theory of Economic Fluctuations, the work which established his reputation. Also included are papers documenting his confrontation with Keynes's General Theory, including Kalecki's review of that work, and his various studies on the theory and policies relating to full employment, both the well known `Political Aspects of Full Employment' and `Three Ways to Full Employment', and those which have unfairly received less attention. The editorial comments and annexes at the end of the volume, besides giving valuable information on the background to the main texts, include illuminating exchanges of correspondence between Kalecki and Keynes, Joan Robinson, and others. |
Contents
Introduction | 1 |
On Activating the Balance of Trade | 15 |
Influence of a Reduction in the Prices | 21 |
Price Structure and Capitalization after | 24 |
The World Financial Crisis | 37 |
Mr Keyness Predictions | 45 |
New Industries and the Overcoming of a Crisis | 54 |
On the Papen Plan | 60 |
Relative Share of Manual Labour in the National | 237 |
Prices of Consumer and Investment Goods in | 252 |
Capitalist Income and Consumption in | 263 |
Gross National Income and Investment in the USA | 269 |
Money and Real Wages | 274 |
Real Wages in the USA | 278 |
The LongTerm Rate of Interest | 293 |
Deviations of the Yield of Consols from | 297 |
Dependence of the Duration of the Cycle | 91 |
Critical Remarks on one of the Mathematical | 109 |
A Macrodynamic Theory of Business Cycles | 120 |
Dependence of the Duration of the Cycle | 133 |
Comments on the Macrodynamic Theory | 139 |
The Business Cycle and Inflation | 147 |
Stimulating the World Business Upswing | 156 |
On Foreign Trade and Domestic Exports | 165 |
The Business Cycle and Welfare | 174 |
The Business Cycle and Armaments | 182 |
The Essence of the Business Upswing | 188 |
The Business Upswing and the Balance of Payments | 195 |
Three Systems | 201 |
Some remarks on Keyness Theory | 223 |
| 233 | |
Foreword | 234 |
A Theory of Commodity Income and Capital Taxation | 319 |
The Lesson of the Blum Experiment | 326 |
Costs of Production and Prices of Industrial Products | 328 |
Three Ways to Full Employment | 357 |
Full Employment by Stimulating Private Investment? | 377 |
The Maintenance of Full Employment after | 387 |
A Comment on Monetary Policy | 402 |
Multilateralism and Full Employment | 409 |
A Note on LongRun Unemployment | 417 |
R Frisch H Holme The Characteristic Solutions | 447 |
Suggestions | 461 |
Rejoinder to A M Neuman | 492 |
A Theory of the Business Cycle | 529 |
The Maintenance of Full Employment after | 585 |
Index of Names | 595 |
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Collected Works of Michal Kalecki: Volume I. Capitalism: Business Cycles and ... Michal Kalecki No preview available - 1990 |
Common terms and phrases
aggregate production amount argument assume assumption average balance of trade budget deficit business cycle business upswing capital equipment capitalist consumption capitalist income cartelized central bank constant cost countries crisis curve degree of monopoly depreciation determined economic entrepreneurs equal equation equilibrium essay expenditure exports factors fall financing fixed capital fluctuations follows full employment given gross accumulation Hence imperfect competition imports income tax increasing function influence investment activity investment decisions investment orders J. M. Keynes Joan Robinson Kalecki Keynes Keynes's Keynesian manual labour marginal marginal costs ment Michał Kalecki milliards money wages national income output of investment period private investment problem production of investment purchasing power Ragnar Frisch rate of interest rate of investment rate of profit ratio raw materials real wages relative share rentiers result rise savings short-period social income stimulating stocks volume of investment wage reductions workers