1999•Review of Political EconomyRequires access

Kalecki's ''Essays in the Theory of Economic Fluctuations''

Brian Tew

Abstract

This paper compares Kalecki's 1939 book, 'Essays in the Theory of Economic Fluctuations' with the analysis of Keynes in the 'General Theory' and subsequent articles. It argues that the work of Kalecki lends strong support to Keynes's crusade against contemporary macroeconomic theory; where Keynes and Kalecki differed, it was generally due to the Keynesian assumption of perfect competition, which Kalecki rejected.

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Key concepts: Economics, Post-Keynesian economics, Keynesian economics, Business cycle, Neoclassical economics, General theory, Competition (biology), Macroeconomics