2010 | OriginalPaper | Chapter
Michal Kalecki’s Life and Work
Authors : Julio G. López, Michaël Assous
Published in: Michal Kalecki
Publisher: Palgrave Macmillan UK
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In 1933 Michael Kalecki, a young self-taught economist, published in Poland a small book: An Essay on the Theory of the Business Cycle. In this book he proposed his version of the theory of effective demand; a theory which was to initiate, albeit in John Maynard Keynes’s version, a new phase in the history of economic ideas and policymaking.