Michal

In his Essays in the Theory of Business Cycle published in Polish in 1933, Kalecki clearly stated the principle of effective demand in mathematical form. By 1935 he outlined his theory of employment,

This volume includes six essays, the first dating from 1935 and the last from 1967, by one of the outstanding economists of our time. The economics presented in this volume is political economy worthy

This 1987 book brings together the series of papers Kalecki wrote, between 1940 and his death in 1970, on economic planning, that contain the germ of his theory of growth in a socialist economy. They also contain an intriguing analysis of economic planning in a socialist society. This analysis anticipates many of the tenets of the disequilibrium school of economists of the 1970s. In his introduction, Jan Toporowski argues that Kalecki's work on the theory of growth in a socialist economy is incomplete and has often consequently been misrepresented without the analysis presented in these papers, which are in this edition. This book will be of interest to all those interested in Kaecki's work, the economics of planning, and economic policy-making.