---------- Forwarded message ---------- > From: Riccardo Bellofiore <bellofio@cisi-aule.cisi.unito.it> Subject: Re: [OPE-L:5788] Marx's and Kalecki's monetary insights I would start from the '33-'35 papers of Kalecki which anticipated in Polish the Keynesian revolution (if I remember well, they were printed together in English as Theory of Economic Fluctuactions. But before it would be good to read the short artcle on The Problem of Effective Demand and the Schemes of Reproduction (Tugan Baranovski & Rosa Luxemburg), 1968, may be: the title is not exactly this - I am not at home now, so I've not the references here. The fact is that Kalecki developed his insights starting from Rosa Luxemburg, not (I would guess, directly from Marx; and this of course gives a different foundation than Keynes's Marshall). The problem for me is that in Kaslecki the labour theory of value is not explicitly taken into account, but I agree that he must be an important antecedant for contemporary Marxism. I would argue that in Kalecki what's more important is the link between finance & production, the consequences on the distribution of income, and the notion of effective demand (plus the unfinished business on investment and the cycle). On all the three points he made decisive advances in Marx: no theory of commodity-money, hence different analysis about the relation between wages and profits, and a clearer definition of autonomous demand without the implication that all surplus value is automatically invested. r.b. At 4:46 -0400 5-06-2001, Gerald_A_Levy wrote: >Andrew T suggested, in part, in [5773] that >Marxists should re-learn Marx's "monetary >insights, which provide the antecedants to Post >Keynesian Economics". > >To which Paul C added in [5775]: > >> Even better to re-read Kalecki. > >Paul: Reading which books and/or articles by >Kalecki do you believe are best from the >standpoint of stimulating Marxists to develop >monetary insights'? (that's a quick and simple >question that others are encouraged to answer as >well). > >Is there anything in Kalecki's 'monetary insights' >that was not anticipated by Marx? If so, what? > >In solidarity, Jerry Riccardo Bellofiore Office: Department of Economics Piazza Rosate, 2 I-24129 Bergamo, Italy Home: Via Massena, 51 I-10128 Torino, Italy e-mail bellofio@cisi.unito.it, bellofio@unibg.it tel: +39 035 277545 (direct) +39 035 277501 (dept.) +39 011 5819619 (home) fax: +39 035 249975 http://www.unibg.it/dse/homebellofiore.htm
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