Investment, Employment And Income Distribution

This collection of articles provides an introduction to the important contributions of Michal Kalecki, John Maynard Keynes, and Joan Robinson, highlighting the interrelationships between their theories. The articles are sympathetic but not uncritical.

Format: Paperback / softback
Length: 248 pages
Publication date: 30 June 2022
Publisher: Taylor & Francis Ltd

First published in 1988, this collection offers a comprehensive overview of the influential economic theories of Michal Kalecki, John Maynard Keynes, and Joan Robinson. The articles included herein were originally crafted to aid the authors' students in grasping these economists' ideas, making them accessible and relevant to a broader audience. While each article stands on its own, collectively they serve as an introductory guide to the significant contributions of these three economists, while also elucidating the interconnectedness of their theories. The treatment of these theories in these articles is both sympathetic and critical, providing a balanced perspective that allows readers to appreciate the nuances and complexities of these economic frameworks.

Michal Kalecki, a renowned economist of the 20th century, is best known for his contributions to the field of economic theory. His work, particularly in the realm of macroeconomics, sought to explain the workings of the economy on a national and global scale. Kalecki's theories emphasized the importance of government intervention in managing economic fluctuations and promoting social welfare. He believed that markets could not always ensure efficient resource allocation and that government policies could play a crucial role in addressing income inequality and promoting economic growth.

John Maynard Keynes, another influential economist, is renowned for his Keynesian economic theories. Keynes believed that economic fluctuations were primarily driven by aggregate demand, which he defined as the total spending of households, businesses, and governments. He argued that government policies, such as fiscal stimulus and monetary policy, could be used to manage economic downturns and promote economic recovery. Keynes' theories have had a significant impact on modern economic policy, particularly during the Great Depression and subsequent economic crises.

Joan Robinson, a British economist, is known for her contributions to the field of labor economics. Robinson's work focused on the gender pay gap and the role of women in the labor market. She argued that discrimination and social norms were significant factors contributing to the gender pay gap and that policies aimed at promoting gender equality could help to reduce it. Robinson's theories have influenced the debate over gender inequality in the workplace and have contributed to the development of policies aimed at promoting equal pay for equal work.

In conclusion, this collection of articles provides a valuable introduction to the economic theories of Michal Kalecki, John Maynard Keynes, and Joan Robinson. The articles are written in a clear and accessible style, making them suitable for students and scholars alike. By exploring the interconnectedness of these theories, readers gain a deeper understanding of the complex economic landscape and the role that government policies and market mechanisms play in shaping our world.

ISBN-13: 9780367153205