The seven volumes will comprise the definitive scholarly edition of the works of Micha/l Kalecki, one of the most distinguished of twentieth-century economists and one of the trio who arrived at the conclusions promulgated by Keynes around the same time as - and in Kalecki's case, arguably earlier than - Keynes himself. Nearly half the material to appear in the seven volumes has never been previously published in English and includes
revisions and additions made in the light of recent research, including information about the relationship of Kalecki's ideas to the ideas of contemporary economic theory. This volume
deals with the capitalist economy and contains Kalecki's studies on the theory of income distribution in oligopolistic capitalism and on its economic dynamics. Each part of the book consists of essays devoted to a similar topic and individual papers in each part are arranged in chronological order. The editorial comments and annexes at the end of the volume, besides giving valuable information on the background to the main texts, include illuminating exchanges of
correspondence between Kalecki and Keynes, Joan Robinson, and others.
`[Kalecki] combined the superb gifts of intuition of a Keynes with a masterly use of orders of magnitude and simplifications which starkly reveal the major factors at work and produce the robust results of both the good theoretician and the applied statistician.' Economic Journal
'These two volumes contain nearly everything Kalecki had to say about capitalism. Both volumes include a wealth of additional material delineating changes in various editions of Kalecki's writings.'
Co-operative Economics News Service (US), January-April 1992
`The Collection can be undoubtedly helpful in reconstructing the Kaleckian version of the functioning of capitalist system which can be considered as alternative with respect to that of Keynes ... Kalecki's own evolution had been scarsely noticed and often misunderstood. The Collection deserves the credit to have covered this lack of knowledge.'
Part 1: Factors in the Distribution of National Income; Part 2: Elements of Economic Dymanics; Part 3: Theory of Economic Dynamics; Part 4: The Business Cycle and Armaments after the Second World War; Part 5: Further Developments of the Theory of Economic Dynamics and Glosses.