Kalecki’s Quest for the Microeconomic Foundations of his Macroeconomic Theory

Alberto Chilosi

Chapter 6 in Kalecki’s Relevance Today, 1989, pp 101-120 from Palgrave Macmillan

Abstract: Abstract Kalecki’s research on the functioning of the capitalist economy can be subdivided into the study of the following problems:1. The determination of national income and of the other macro-economic aggregates in the short run, given the level of investment. The latter is in the short run exogeneous, because of the lag between investment orders and investments, and of the equilibrium hypothesis, according to which investment decisions are effectively carried out. 12. The determination of investment orders.3. The cycle.4. The long-run evolution of the economic system.

Keywords: National Income; Average Price; Profit Margin; Cost Curve; Economic Dynamics (search for similar items in EconPapers)
Date: 1989
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DOI: 10.1007/978-1-349-10376-8_6

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