The First Synthesis of Theory

Jan Toporowski
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Jan Toporowski: University of London

Chapter 12 in Michał Kalecki: An Intellectual Biography, 2013, pp 116-124 from Palgrave Macmillan

Abstract: Abstract In Cambridge, from his arrival in November 1937, Kalecki made himself useful. On 27 November Richard Stone wrote to him: I have been reading your articles in Econometrica, The Review of Economic Studies, and the Economic Journal and should like to say how very interesting I found them… My wife and I have been asked to read a paper to the study group of the Royal Statistical Society, and have chosen the subject of the relation of income to investment. One of the aspects of this problem with which we propose to deal is the quantitative determination of the multiplier for different countries… The method which has so far proved most applicable is that of correlating time series of consumption or gross investment with gross income since figures of this sort are more generally available than those required by other method. Our slight acquaintance with Polish statistics, slight because unfortunately we cannot read the language, leads us to suppose that a similar calculation could be made for Poland… may I ask you for your help in this matter’.1

Keywords: Current Account; Real Wage; Business Cycle Theory; Money Wage; Correlate Time Series (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-1-137-31539-7_12

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DOI: 10.1057/9781137315397_12

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