Titlebook: Michal Kalecki; Julio G. López,Micha?l Assous Book 2010 Palgrave Macmillan, a division of Macmillan Publishers Limited 2010 business cycle

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,Genesis and Originality of Kalecki’s Theory,his booklet ., which was followed by several other publications, where he further developed his theory. The first objective of this chapter is to present the main steps in the development of Kalecki’s theory of profits, output and employment; whose final version we presented in the previous chapter.

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The Theory of Prices and Income Distribution,ecisely on the share of profits in the national income. We will now present Kalecki’s theory of income distribution, which is closely related to his theory of price determination. The latter, in turn, is related to his view that modern capitalism is characterized by market imperfections, both on the

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,Kalecki’s Macroeconomics of Public Finance and of Monetary Policy, financial crisis, public spending, and even deficit spending, has regained a place of honour in the arsenal of acceptable economic policy instruments. This new situation is hailed by publicists and pundits as a revival of Keynes and Keynesianism.