This paper draws together the various elements of Kalecki's analysis of income distribution. to contributions by Michal Kalecki, one could a lso speak of a post-Kaleckian theory.T he post- Keynesia n theories of gr owth and distri bution are essentially an off spring of the principle of the It is argued that what a higher degree of monopoly makes possible and protects is the rate of return of the main firms in an industry. Kalecki’s Economics Today Michal Kalecki was a Polish economist who independently discovered many of the key concepts of what is now identified as Keynesian theory. kalecki’s ‘degree of monopoly’ theory According to Kalki, the distribution of national income into profits and wages depends upon the degree of monopoly in the economy. Kalecki, a Polish Jew, had no formal economic educa tion, but what he did study was larg ely Marxist theory. (c) Brian Romanchuk 2018 Hein E., van Treeck T. (2010): Financialisation in post-Keynesian models of distribution and growth: a systematic review. His con-tribution to macroeconomics was late in being acknowledged, but his work can be seen to have resounding influence on some of today’s economic problems. I got the reference from Marc Lavoie's Post-Keynesian Economics: New Foundations. monetary theory of value. A Kaleckian theory of income distribution A. ASIMAKOPULOS / McGill University A Kaleckian theory of income distribution. Kalecki, M. (1966) Studies in the Theory of Business Cycles: 1933–39 (trans from the first Polish eds by Mrs Ada Kalecki) (Oxford, Basil Balckwell). On Kalecki in this respect, see Sherman, The Business Cycle, 71–72; Michał Kalecki, Theory of Economic Dynamics (New York: Monthly Review Press, 1965). ↩ Marx, Capital, vol. (ed. ): Handbook of Alternative Theories of Economic Growth. versity Press, 1991), 70, 135–36. Economic theory traditionally discusses distribution as shares between two classes: labour and capital. Kuznets was critical of theoretical work built on over-simplified assumptions and he criticized the idea that capital and labor were the sole factors sufficient for economic growth. 1, 772–94. Keynes was a highly-educated, urbane Englishman from the upper tiers of society. Google Scholar Kalecki, M. (1968) “Trend and Business Cycles”, The Economic Journal , 78 pp. The quote itself is in page 96. He notes that this quotation is often mis-attributed to Kalecki. 263–276. Although Keynes’s theory offered a departure from the orthodoxy, he still remained faithful to the fundamental levers behind laissez-faire capitalism. distribution between rich and poor population groups. *** N. Kaldor, "Alternative Theories of Distribution," Review of Economic Studies, 23 (2), pages 83-100. Cheltenham, Edward Elgar Publishing: 277–292. Kalecki is a pioneer in introducing raw material costs into the analysis of distribution. Distribution theory, in economics, the systematic attempt to account for the sharing of the national income among the owners of the factors of production—land, labour, and capital.Traditionally, economists have studied how the costs of these factors and the size of their return—rent, wages, and profits—are fixed. Section 4 will build on Marxs monetary theory and review the Marx-Kalecki connection focusing on Marxs theory of simple and extended reproduction and the built-in, although not fully elaborated Zprinciple of effective demand [ and the related theories of distribution … In: Setterfield M.

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