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Michal Kalecki’s Contribution to the Theory and Practice of Socialist Planning

In: Collected Works of Domenico Mario Nuti, Volume I

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  • Domenico Mario Nuti

    (University of Rome)

Abstract

Michal Kalecki’s contributions to the economics of socialism—less widely known but no less important than his pioneering contributions to the economics of capitalism – span the period 1946–1970 and are affected by the development and performance of the Polish system, as well as coloured by his views on capitalist dynamics. They consist of a coherent model of the socialist economy and its functioning, characterised by centralised economic planning and political decentralisation with a limited role for markets; a well-developed theory of socialist dynamics, emphasising exogenous constraints to growth and accumulation policy, which were neglected by Polish leaders with dramatic consequences; and a number of planning procedures and guidelines of practical use, for the selection of investment projects, consumption planning and the construction of long-term plans.

Suggested Citation

  • Domenico Mario Nuti, 2023. "Michal Kalecki’s Contribution to the Theory and Practice of Socialist Planning," Studies in Economic Transition, in: Saul Estrin & Milica Uvalic (ed.), Collected Works of Domenico Mario Nuti, Volume I, chapter 4, pages 55-89, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-3-031-12334-4_4
    DOI: 10.1007/978-3-031-12334-4_4
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