Kalecki on money and finance

Malcolm Sawyer

The European Journal of the History of Economic Thought, 2001, vol. 8, issue 4, 487-508

Abstract: It is argued that Kalecki had a greater appreciation of the role of the monetary sector than has been generally recognized, and that Kalecki presented ideas which can be seen as now embedded in the structuralist post Keynesian analysis of endogenous money and in the circuitist approach. Six key features of Kalecki's monetary analysis are identified. The paper outlines Kalecki's dismissal of the 'Pigou effect' and the 'Keynes effect', and then discussion the relationship between the 'principle of increasing risk' and the nature of the supply of credit. It discusses interest determination in Kalecki's writings and the manner in which he distinguished different types of money.

Keywords: Money Finance Kalecki Endogenous Money Interest Rate (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (10)

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Chapter: Kalecki on Money and Finance (2007)
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DOI: 10.1080/09672560110079502

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