Kalecki on money and finance
AbstractIt is argued that Kalecki had a greater appreciation of the role of the monetary sector than has been generally recognized, and that Kalecki presented ideas which can be seen as now embedded in the structuralist post Keynesian analysis of endogenous money and in the circuitist approach. Six key features of Kalecki's monetary analysis are identified. The paper outlines Kalecki's dismissal of the 'Pigou effect' and the 'Keynes effect', and then discussion the relationship between the 'principle of increasing risk' and the nature of the supply of credit. It discusses interest determination in Kalecki's writings and the manner in which he distinguished different types of money.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal The European Journal of the History of Economic Thought.
Volume (Year): 8 (2001)
Issue (Month): 4 ()
Contact details of provider:
Web page: http://www.tandfonline.com/REJH20
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lavoie, Marc, 1996.
"Horizontalism, Structuralism, Liquidity Preference and the Principle of Increasing Risk,"
Scottish Journal of Political Economy,
Scottish Economic Society, vol. 43(3), pages 275-300, August.
- Lavoie, M, 1995. "Horizontalism, Structuralism, Liquidity Preference and the Principle of Increasing Risk," Working Papers 9513e, University of Ottawa, Department of Economics.
- Eckhard Hein, 2005.
"Interest, debt and capital accumulation - a Kaleckian approach,"
IMK Working Paper
05-2005, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
- Eckhard Hein, 2006. "Interest, Debt and Capital Accumulation—A Kaleckian Approach," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(3), pages 337-352.
- Eckhard Hein, 2005. "Interest, debt and capital accumulation - a Kaleckian approach," Macroeconomics 0510007, EconWPA.
- Eckhard Hein, 2007.
"Interest Rate, Debt, Distribution And Capital Accumulation In A Post-Kaleckian Model,"
Wiley Blackwell, vol. 58(2), pages 310-339, 05.
- Hein, Eckhard, 2004. "Interest rate, debt, distribution and capital accumulation in a post-Kaleckian model," WSI Discussion Papers 133, Wirtschafts- und Sozialwissenschaftliches Institut (WSI), Hans-Böckler-Stiftung.
- Eckhard Hein, 2004. "Interest rate, debt, distribution and capital accumulation in a post-Kaleckian model," Macroeconomics 0412005, EconWPA.
- Alberto Chilosi, 2003. "Kalecki'S Theory Of Income Determination: A Reconstruction And An Assessment," Method and Hist of Econ Thought 0305001, EconWPA.
- Georgios Argitis & Stella Michopoulou, 2011. "Are Full Employment and Social Cohesion Possible Under Financialization?," Forum for Social Economics, Springer, vol. 40(2), pages 139-155, July.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.