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An Alternative Macroeconomic Theory: The Kaleckian Model and Post-Keynesian Economics (Hardcover, 1996 ed.)
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An Alternative Macroeconomic Theory: The Kaleckian Model and Post-Keynesian Economics (Hardcover, 1996 ed.)
Series: Recent Economic Thought, 49
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lE. King Michael Kalecki (1899-1970) was one of the most important,
and also one of the most underrated, economists of the twentieth
century. In the 1930s he made a series of fundamental contributions
to macroeconomic theory which anticipated, complemented and in some
ways surpassed those of Keynes. Almost entirely self-educated in
economics, and influenced rul much by Marxism as by mainstream
theory, Kalecki very largely escaped the fatal embrace of
pre-Keynesian orthodoxy, which blunted the thrust of the General
Theory. Many Post Keynesians, in particular, have found in his work
the elements of a convincing alternative to what Joan Robinson
-Kalecki's greatest advocate in the English-speaking world - was
scathingly to describe as 'bastard Keynesianism' . But Kalecki was
never interested in theory for its own sake. He approached
economics from a practical perspective, wrote extensively on
applied and policy questions, and in the [mal decades of his life
turned his attention increasingly to problems of economic
development and the management of state socialist economies.
General
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