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"It may thus be concluded that in the absence of development factors the system lapses into a stationary state. These factors thus appear to be a prerequisite of a steady growth."
Michał KaleckiIt is indeed paradoxical that, while the apologists of capitalism usua — Michał Kalecki
"It is indeed paradoxical that, while the apologists of capitalism usually consider the price mechanism to be the great advantage of the capitalist system, price flexibility proves to be a characteristic feature of the socialist economy."
Michał Kalecki
Michał Kalecki
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Michał Kalecki was a Polish Marxian economist. Over the course of his life, Kalecki worked at the London School of Economics, University of Cambridge, University of Oxford, and Warsaw School of Economics, and was an economic advisor to the governments of Poland, France, Cuba, Israel, Mexico, and India. He also served as the deputy director of the United Nations Economic Department in New York City
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"We have found that the degree of monopoly is likely to increase somewhat during depressions."
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"In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes."
Michał KaleckiQuote
"It is the export surplus and the budget deficit which enable the capitalists to make profits over and above their own purchases of goods and services. The connection between external profits and imperialism is obvious."
Michał KaleckiQuote
"Generally speaking, changes in the prices of finished goods are "cost determined" while changes in the prices of raw materials inclusive of primary foodstuffs are "demand determined"."
Michał KaleckiQuote
"Thus, even with relatively heavy damping such shocks generate fairly regular cycles. The result is of considerable importance."
Michał Kalecki