Ebook: An Alternative Macroeconomic Theory: The Kaleckian Model and Post-Keynesian Economics

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.

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This volume presents an alternative macroeconomic theory based on the contributions of Michal Kalecki.
Kalecki's importance as a pioneer of post-Keynesian theory has long been recognized by such prominent economists as Joan Robinson and Lawrence Klein. While in the U.S. post-Keynesian economics has drawn more heavily on indigenous sources (i.e. Weintraub, Davidson and Minsky) and on Keynes himself, European, Indian and Australian post-Keynesians have always regarded Kalecki as their principal source and inspiration.
The book covers topics on methodology, price theory, trade cycles and economic growth, monetary economics, socialism, and concludes with a complete bibliography on Kalecki.