The Principle of Increasing Risk versus the Marginal Efficiency of Capital

Ferdinando Meacci ()

Chapter 14 in Kalecki’s Relevance Today, 1989, pp 231-245 from Palgrave Macmillan

Abstract: Abstract O. Lange (1939), E. A. G. Robinson (1947), L. Klein (1951), J. Robinson (1964, 1966, 1971, 1976, 1977) and others have claimed that Keynes’s General Theory was independently discovered by Kalecki. To all of them Patinkin (1982, p. 77) has replied that Kalecki’s theory ‘fails to present an integrated analysis of the commodity and money markets’, and that his ‘central message has to do not with the forces that generate equilibrium at low levels of output, but with the forces that generate cycles of investment’.

Keywords: Stock Exchange; Capital Asset; Capital Equipment; Total Wealth; Productive Asset (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_14

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DOI: 10.1007/978-1-349-10376-8_14

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