Michal Kalecki and the Economics of Development Jayati Ghosh

In the long and impressive catalogue Michal Kalecki’s contributions to economics, the proportion of writings devoted to what is now called “development economics” is relatively small. Nevertheless, his work in this area are so full of insight and sharp analysis that they contain many of the basic principles that still constitute the theoretical armoury of the study of development issues.

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(This piece has appeared in the book “Pioneers in Development Economics: Great Economists on Development”, Edited by Jomo K.S, Zed Books, 2005.)