Michal Kalecki

Michal Kalecki (22 June 1899 - 18 April 1970) was a Polish economist who specialized in macroeconomics of a broadly-defined Keynesian sort. Over the course of his life, Kalecki worked at the London School of Economics, University of Cambridge, University of Oxford and Warsaw School of Economics as well as an economic advisor to governments of Cuba, Israel, Mexico and India. He also served as the deputy director of the United Nations Economic Department in New York City. Kalecki has been called "one of the most distinguished economists of the 20th century." It is often claimed that he developed many of the same ideas as Keynes, before Keynes; however, since he published in Polish and French, he remains much less known to the English-speaking world. He offered a synthesis that integrated Marxist class analysis and the then-new literature on oligopoly theory, and his work had a significant influence on both Neo-Marxian (Monopoly Capital) and Post Keynesian schools of economic thought. He was also one of the first macroeconomists to apply mathematical models and statistical data to economic questions. In 1970, MichaÅ‚ Kalecki was nominated to the Nobel Prize in Economics, but died the same year. Continue Reading »

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