The Kaleckian Analysis and the New Mellinium
This paper commemorates the centenary of Kalecki's birth through a consideration of how Kalecki's macroeconomic analysis of capitalist economies should be adapted in light of changes in such economies over the fifty years since the major elements of Kalecki's analysis of capitalism were put into place. The main elements of Kalecki's analysis, in terms of the key assumptions which he made, are outlined, and how well these assumptions have survived is discussed. The next three sections consider globalisation, the growth in the importance of financial markets and the relationship between the real and the financial sectors, and the changing relationship between workers and business (and the associated changes in industrial relations practice and law) as areas where there have been major changes in the past three decades and where Kalecki's analysis may need to be modified to encapsulate those changes.
|Date of creation:||08 May 1998|
|Date of revision:||01 Sep 1998|
|Note:||Type of Document - Acrobat PDF; prepared on IBM PC ; to print on PostScript; pages: 27; figures: included|
|Contact details of provider:|| Web page: http://184.108.40.206 |
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.:
- Robert J. Shiller, 1980.
"Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends?,"
NBER Working Papers
0456, National Bureau of Economic Research, Inc.
- Shiller, Robert J, 1981. "Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends?," American Economic Review, American Economic Association, vol. 71(3), pages 421-36, June.
- Hyman P. Minsky, 1992. "The Financial Instability Hypothesis," Economics Working Paper Archive wp_74, Levy Economics Institute.
- Glyn, Andrew, 1997.
"Does Aggregate Profitability Really Matter?,"
Cambridge Journal of Economics,
Oxford University Press, vol. 21(5), pages 593-619, September.
- Sawyer, Malcolm C, 1988. " Theories of Monopoly Capitalism," Journal of Economic Surveys, Wiley Blackwell, vol. 2(1), pages 47-76.
- Arestis, Philip & Sawyer, Malcolm, 1997. "How Many Cheers for the Tobin Transactions Tax?," Cambridge Journal of Economics, Oxford University Press, vol. 21(6), pages 753-68, November.
- Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June.
- Henley, Andrew, 1994. "Industrial Deconcentration in U.K. Manufacturing since 1980," The Manchester School of Economic & Social Studies, University of Manchester, vol. 62(1), pages 40-59, March.
- Arestis, Philip & Howells, Peter, 1996. "Theoretical Reflections on Endogenous Money: The Problem with 'Convenience Lending.'," Cambridge Journal of Economics, Oxford University Press, vol. 20(5), pages 539-51, September.
- S. W. Davies & Paul A. Geroski, 2000. "Changes In Concentration, Turbulence, And The Dynamics Of Market Shares," The Review of Economics and Statistics, MIT Press, vol. 79(3), pages 383-391, August.
- Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
- Shiller, Robert J, 1990. "Speculative Prices and Popular Models," Journal of Economic Perspectives, American Economic Association, vol. 4(2), pages 55-65, Spring.
- Kalecki, Michal, 1971. "Class Struggle and the Distribution of National Income," Kyklos, Wiley Blackwell, vol. 24(1), pages 1-9.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpma:9805001. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.