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Theory of Economic Dynamics: An Essay on Cyclical and Long-Run Changes in Capitalist Economy
Michal Kalecki
(Author)
·
Monthly Review Press
· Paperback
Theory of Economic Dynamics: An Essay on Cyclical and Long-Run Changes in Capitalist Economy - Kalecki, Michal
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Synopsis "Theory of Economic Dynamics: An Essay on Cyclical and Long-Run Changes in Capitalist Economy"
In his Essays in the Theory of Business Cycle published in Polish in 1933, Kalecki clearly stated the principle of effective demand in mathematical form. By 1935 he outlined his theory of employment, demolished the then-orthodox remedy for a depression-that is, wage cutting-and pinpointed the importance of investment for economic dynamics. Thus, although his training had been in Marxist economics, he succeeded in anticipating the Keynesian system, and, as Joan Robinson has pointed out, his claim to priority of publication is indisputable although he never mentioned this fact.
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All books in our catalog are Original.
The book is written in English.
The binding of this edition is Paperback.
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