Michal Kalecki’s Contributions to the Theory and Practice of Socialist Planning

D. M. Nuti

Chapter 19 in Kalecki’s Relevance Today, 1989, pp 317-358 from Palgrave Macmillan

Abstract: Abstract Michal Kalecki’s contributions to the economics of socialism — less widely known but no less important than his pioneering contributions to the economics of capitalism — span the period 1946-70 and are affected by the development and performance of the Polish system, and coloured by his views on capitalist dynamics. These contributions comprise a coherent model of the socialist economy and its functioning, characterised by centralised economic planning and political decentralisation with a limited role for markets; a well-developed theory of socialist dynamics, emphasising exogenous constraints to growth and accumulation policy, which were neglected by Polish leaders with dramatic consequences; and a number of planning procedures and guidelines of practical use for the selection of investment projects, consumption planning and the construction of long-term plans.

Keywords: Socialist Economy; Golden Rule; Consumption Good; Full Employment; Realisation Price (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-10376-8_19

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DOI: 10.1007/978-1-349-10376-8_19

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