Michał Kalecki in the 21st Century

Roni Demirbag, University of Sydney, Australia Gary A. Dymski, University of Leeds, UK Mark Evers, University of Denver, USA Joseph Halevi, University of Sydney, Australia G.C. Harcourt, University of New South Wales, Australia Peter Kriesler, University of New South Wales, Australia Marc Lavoie, University of Ottawa, Canada Edwin Le Heron, Bordeaux Institute of Political Sciences, France Kazimierz ?aski, University of Linz, Austria ?ukasz Mamica, Cracow University of Economics, Poland Tracy Mott, University of Denver, USA D. Mario Nuti, University of Rome 'La Sapienza', Italy Jerzy Osiaty?ski, National Bank of Poland Malcolm Sawyer, University of Leeds, UK.

“Provides the right sort of reminder, highlighting key aspects of Kalecki’s contributions, providing illustrations of how they can be applied to understanding the forces leading to the GFC, and developing strategies that would enable the economy to move forward. … Kaleckian scholars will greatly appreciate the contributions and insights in this volume, but there is a much wider audience of economists, commentators, journalists and policy-makers who would benefit greatly from exposure to the alternative understanding of macroeconomic phenomena it conveys.” (Harry Bloch, Economic Record, Vol. 93 (300), March, 2017)“This book contains some interesting material for specialists in specific areas of Kaleckian economics, but also some important, more general readings for those who are interested in an alternative to mainstream economics and economic policies, which have been discredited by the recent crises and the economic policy responses towards these crises, in particular in Europe.” (Eckhard Hein, European Journal of Economics and Economic Policies: Intervention, Vol. 13 (3), 2016)

• Introduction; ?ukasz Mamica and Jan Toporowski PART I: KALECKI AND MACROECONOMICS 1. The Failure of Economic Planning: The Role of the Fel'dman Model and Kalecki's Critique; P. Kriesler and G.C. Harcourt 2. Are Rigid Prices the Cause of Unemployment?; J. Osiaty?ski 3. Kalecki and Post-Keynesian Economics; M. Lavoie 4. Effective Demand and Path Dependence in Short and Long Run Growth; A. Bhaduri 5. Kaleckian Traverse, Socialist Planning and Hayekian Objections; R. Demirbag and J. Halevi 6. The Impact of Innovations on Investments and Economic Growth in the Thought of Kalecki; ?. Mamica 7. 'Dr. Kalecki' and Mr. Keynes; H. Szymborska and J. Toporowski PART II: KALECKI AND CRISIS IN THE 21ST CENTURY 8. Micha? Kalecki's Capitalist Dynamics from Today's Perspective; D.M. Nuti 9. Kalecki's Profit Equation after 80 years; K. ?aski and H. Walther 10. Kalecki and Kowalik on the Dilemma of 'Crucial Reform' in the United States and Poland; G.A. Dymski 11. A Kaleckian Perspective on Changes in theAggregate Income Distribution in the US; T. Mott and M. Evers 12. Addressing the 'Great Recession' Using Kalecki's Macroeconomic Analysis; M.C. Sawyer 13. Economic Policies for Exit From Crisis in a Post-Kaleckian Model; E. Le Heron 14. Firm Heterogeneity, Finance and Development: A Kaleckian Perspective; J. Penrose 15. The Kalecki-Steindl Theory of Financial Fragility; J. Toporowski