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Michał Kalecki Quotes

1899–1970 Poland

Poland
Economists

Also known as: Michal Kalecki

Random Michał Kalecki quote

15 quotes

It should be noticed that the whole approach is in contradiction to generally accepted views.

Theory of Economic Dynamics (1965)

We have found that the degree of monopoly is likely to increase somewhat during depressions.

Theory of Economic Dynamics (1965)

In a sense the budget deficit can be considered as an artificial export surplus.

Theory of Economic Dynamics (1965)

An increase in the number of paupers does not broaden the market.

Theory of Economic Dynamics (1965)

Armaments and wars, usually financed by budget deficits, are also a source of this kind of profits.

Theory of Economic Dynamics (1965)

The most important prerequisite for becoming an entrepreneur is the ownership of capital.

Theory of Economic Dynamics (1965)

In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes.

Theory of Economic Dynamics (1965)

It may thus be concluded that in the absence of 'development factors' the system lapses into a stationary state. These factors thus appear to be a prerequisite of a steady growth.

Theory of Economic Dynamics (1965)

Generally speaking, changes in the prices of finished goods are "cost determined" while changes in the prices of raw materials inclusive of primary foodstuffs are "demand determined".

Theory of Economic Dynamics (1965)

Thus, even with relatively heavy damping such shocks generate fairly regular cycles.
The result is of considerable importance.

Theory of Economic Dynamics (1965)

It has been frequently assumed that V is constant; and this indeed is the cornerstone of the quantity theory of money. But it seems fairly obvious that the velocity of circulation in fact depends on the short-term rate of interest.

Theory of Economic Dynamics (1965)

It is indeed paradoxical that, while the apologists of capitalism usually consider the 'price mechanism' to be the great advantage of the capitalist system, price flexibility proves to be a characteristic feature of the socialist economy.

Theory of Economic Dynamics (1965)

It should first be stated that a joint-stock company is not a 'brotherhood of shareholders' but is managed by a controlling group of big shareholders while the rest of the shareholders do not differ from holders of bonds with a flexible rate of interest.

Theory of Economic Dynamics (1965)

It is the export surplus and the budget deficit which enable the capitalists to make profits over and above their own purchases of goods and services.
The connection between 'external' profits and imperialism is obvious.

Theory of Economic Dynamics (1965)

The capitalists of a country which manages to capture foreign markets from other countries are able to increase their profits at the expense of the capitalists of the other countries. Similarly, a colonial metropolis may achieve an export surplus through investment in its dependencies.

Theory of Economic Dynamics (1965)

Attribution

Quotes and notes from Wikiquote: Michał Kalecki (page history), available under CC BY-SA 4.0.