THE IMPORTANCE OF THE KALECKIAN INCOME DISTRIBUTION

E Ray Canterbery

Chapter 7 in Inequality and Global Supra-surplus Capitalism, 2018, pp 93-117 from World Scientific Publishing Co. Pte. Ltd.

Abstract: While at Cambridge, Marxist economist Michal Kalecki (1899–1970), was befriended by John Kenneth Galbraith. “A small, often irritable, independent, intense man,” Galbraith relates, “Kalecki was the most innovative figure in economics I have known, not excluding Keynes.” Like Sraffa, Kalecki seldom put pen to paper. But when he did, the clarity and depth of his thoughts were powerful.

Keywords: Capitalism; Production Surpluses; Supra-surpluses; Casino Economy; Inequality; Vita Theory; Great Recession; Subsistence; Minimum Wage; Markup; Kaleckian Power; Stagnation; Innovation; Technological Advance; Income Distribution; Wealth Distribution; Fiscal Policy; Monetary Policy; Incomes Policy; Zero-interest Rate Society; Trump; 2016 Campaign; John Kenneth Galbraith; Conventional Wisdom; Expectations; Budget Shares; Veblenian Demand; Engel's Law; Casino Effect; Economic Power (search for similar items in EconPapers)
JEL-codes: N00 (search for similar items in EconPapers)
Date: 2018
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