The Legacy of Rosa Luxemburg, Oskar Lange, and Michal Kalecki: Volume 2 of Essays in Honour of Tadeusz Kowalik

Rosa Luxemburg, Oskar Lange and Michał Kalecki made important contributions to twentieth century political economy that guided the thinking of their student Tadeusz Kowalik. A wide range of contributors to this volume, including Alberto Chilosi, Gary Dymski, John King, Mario Nuti, Alessandro Vercelli, Kazimierz Łaski, Leon Podkaminer, Edwin Le Heron, Malcolm Sawyer, Janusz Tomidajewicz, Pat Devine, Paul Mattick, Marc Lavoie, Paul Auerbach and Dimitris Sotiropoulos, examine how the ideas of Luxemburg, Lange, Kalecki and Kowalik, from finance to macroeconomics, the business cycle and the possibilities of Keynesian stabilisation, to illuminate our understanding of the crisis in twenty-first century capitalism. Front Matter....Pages i-xi Introduction: Tadeusz Kowalik and the Political Economy of the 20th Century....Pages 1-9 The Economic System as an End or as a Means, and the Future of Socialism: An Evolutionary Viewpoint....Pages 10-28 Whatever Happened to the ‘Crucial Reform’?....Pages 29-41 ‘Crucial Reform’ in Post-War Socialism and Capitalism: Kowalik’s Analysis and the Polish Transition....Pages 42-61 Michał Kalecki’s Capitalist Dynamics from Today’s Perspective....Pages 62-73 ‘Political Aspects of Persisting Unemployment’: Kalecki and Beyond....Pages 74-87 The Dynamics of Competition....Pages 88-105 Net Private Savings in Relation to the Government’s Financial Balance....Pages 106-112 Confidence, Increasing Risks, Income Distribution and Crisis in a Post-Kaleckian Stock-Flow Consistent Model....Pages 113-138 Kalecki’s Macroeconomic Analysis and the ‘Great Recession’....Pages 139-152 ‘The Accumulation of Capital’ of Rosa Luxemburg, and Systemic and Structural Reasons for the Present Crisis....Pages 153-167 Capitalism, Crisis, Growth and Ecology....Pages 168-179 Trend and Cycle: On the Timeliness of Grossman’s Breakdown Theory....Pages 180-197 Macroeconomic Paradoxes with Kalecki and Kaleckians....Pages 198-211 Revisiting the Socialist Calculation Debate: The Role of Markets and Finance in Hayek’s Response to Lange’s Challenge....Pages 212-230 Back Matter....Pages 231-267 Rosa Luxemburg, Oskar Lange and Michal Kalecki made important contributions to twentieth century political economy that guided the thinking of their student Tadeusz Kowalik. The chapters of this volume examine how the ideas of Luxemburg, Lange, Kalecki and Kowalik can illuminate our understanding of the crisis in twenty-first century capitalism. Rosa Luxemburg, Oskar Lange and Michal Kalecki made important contributions to twentieth century political economy that guided the thinking of their student Tadeusz Kowalik. A wide range of contributors to this volume, including Alberto Chilosi, Gary Dymski, John King, Mario Nuti, Alessandro Vercelli, Kazimierz Laski, Leon Podkaminer, Edwin Le Heron, Malcolm Sawyer, Janusz Tomidajewicz, Pat Devine, Paul Mattick, Marc Lavoie, Paul Auerbach and Dimitris Sotiropoulos, examine how the ideas of Luxemburg, Lange, Kalecki and Kowalik, from finance to macroeconomics, the business cycle and the possibilities of Keynesian stabilisation, to illuminate our understanding of the crisis in twenty-first century capitalism Annotation Rosa Luxemburg, Oskar Lange and Micha? Kalecki made important contributions to twentieth century political economy that guided the thinking of their student Tadeusz Kowalik. The chapters of this volume examine how the ideas of Luxemburg, Lange, Kalecki and Kowalik can illuminate our understanding of the crisis in twenty-first century capitalism