Kaleckian economics after Kalecki: A survey

This contribution reviews key developments in Kaleckian economics after Kalecki, with a focus on its application to mature capitalist economies. Rather than revisiting interpretations of Kalecki's original work, the contribution highlights subsequent theoretical and empirical extensions. It begins with Josef Steindl's foundational role in shaping Kaleckian economics, and then explores two major areas: distribution and growth models, and conflict inflation models, which have evolved considerably since the 1970s. The survey demonstrates that Kaleckian economics, as major strand of post-Keynesian economics, provides a coherent and consistent alternative to mainstream approaches, grounded in the principles of effective demand and distributional conflict, with a wide range of applications. While comprehensive within its chosen scope, the paper does not address Kaleckian contributions in areas such as pricing beyond Steindl, development economics, or post-capitalist economics, which would merit separate treatments.