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Kalecki, Michal

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Kalecki, Michal (1899–1970)

Polish-born economist who settled in England in the 1930s. In the late 1940s, he moved to the USA to work in the United Nations secretariat. In 1955 he resigned in protest against the communist witch-hunts started by Senator Joe McCarthy and returned to Poland. Independently of John Maynard Keynes, he analysed the failure of market forces to bring about full employment in his book Essays on Business Cycle Theory 1933 and in an article in the Political Quarterly 1943. He also analysed the effects of uncertainty on economic activity in Studies in Economic Dynamics 1943.



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