Methodological Implications of Kalecki’s Microfoundations

Peter Kriesler

Chapter 7 in Kalecki’s Relevance Today, 1989, pp 121-141 from Palgrave Macmillan

Abstract: Abstract Kalecki’s analysis of pricing and distribution underwent substantial changes from its original statement in ‘The Determinants of Distribution of National Income’ (Kalecki, 1939b) to its final version in the posthmously published ‘Class Struggle and Distribution of National Income’. (Kalecki, 1971)1. Despite these changes, Kalecki maintained certain features through all versions of the analysis. In particular, he attempted to formulate the models in such a way as to make the determination of the shares of wages and profits in the national income2 independent of the level of output, and the determination of the level of aggregate profits3 independent of both prices and relative shares. The primary purpose of the current study is to examine the reasons behind this, and to try to draw some general implications from Kalecki’s analysis of the interrelationship of micro and macro analysis, as well as to trace the development of the role which the microanalysis plays in the analysis of the determination of output. Due to the fact, mentioned above, that we are primarily concerned with understanding what Kalecki was trying to do, rather than what he succeeded in doing, we will not consider the problems with (and the limitations of) the analysis of pricing and distribution, but rather

Keywords: Marginal Cost; Business Cycle; Real Wage; National Income; Total Profit (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_7

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DOI: 10.1007/978-1-349-10376-8_7

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