Michał Kalecki

Quotes

• “Generally speaking, changes in the prices of finished goods are "cost determined" while changes in the prices of raw materials inclusive of primary foodstuffs are "demand determined".”
• “It should be noticed that the whole approach is in contradiction to generally accepted views.”
• “We have found that the degree of monopoly is likely to increase somewhat during depressions.”
• “The capitalists of a country which manages to capture foreign markets from other countries are able to increase their profits at the expense of the capitalists of the other countries. Similarly, a colonial metropolis may achieve an export surplus through investment in its dependencies.”
• “In a sense the budget deficit can be considered as an artificial export surplus.”
• “In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes.”

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Wikidata facts

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