Great Debt and a Few Grievances: A note on Michal Kalecki as my adopted mentor

Wlodzimierz Brus

Review of Political Economy, 1999, vol. 11, issue 3, 257-260

Abstract: The aim of this note is to examine briefly the influence Kalecki exerted on the author's way of thinking as a political economist. It is therefore a highly subjective piece, written with the benefit of hindsight. The great debt the author feels he owes Kalecki derives from Kalecki's uncompromising rejection of any kind of dogmatism. This trait appears both in Kalecki's seminal analysis of the macroeconomics of capitalism and in his attempt to work out a theory of growth of a socialist economy. In both cases one of the most inspiring features of Kaleckian economics was its constant awareness of the need to combine rationality with a full appreciation of its socio-political consequences. The author's 'grievances' focus on Kalecki's insufficient attention to microeconomics, and hence to the role of market mechanisms and the supply side of the economy.

Date: 1999
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DOI: 10.1080/095382599106977

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