Kalecki & Keynes on Full Employment

Keynes and Kalecki on Full Employment

Introduction

This essay compares the ideas of Michal Kalecki and John Maynard Keynes. The topic is, indeed, too broad. Thus, I narrow it down and just attempt to, very briefly, answer two questions. First, is Kalecki a Keynesian? And second, are there distinctions between Keynes’s and Kalecki’s positions on full employment?

To answer the first question, I mainly rely on the secondary literature by experts in the field. For the second question, however, I directly focus on Kalecki’s Political Aspects of Full Employment (Kalecki 1943) and Chapter 18 of Keynes’s General Theory Of Employment, Interest And Money (Keynes 2016). I highlight the differences in Keynes’s and Kalecki’s viewpoints and methods that are apparent in these works.

Read the full essay on Dianoetic.

Kalecki & Keynes on Full Employment
Source: http://www.dianoetic.com.au
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