Collected Works of Michal Kalecki: Volume I. Capitalism: Business Cycles and Full Employment: (Collected Works of Michal Kalecki)

This is the first volume in a new, definitive, seven-volume edition of the works of Michal Kalecki, one of the twentieth century's most distinguished economists. Kalecki was one of the three contemporary economists to arrive at the conclusions publicized by Keynes, although Kalecki arguably presented these views even earlier than Keynes. Volume I contains Kalecki's writings on the theory of the business cycle and full employment. His seminal Essay on the Business Cycle Theory is preceded by his earlier theoretical studies and followed by publications which developed and defended its main concepts and ideas. This volume also contains the 1939 book Essays in the Theory of Economic Fluctuations, the work which established his reputation. Also included are papers documenting his confrontation with Keynes's General Theory, including Kalecki's review of that work, and his various studies on the theory and policies relating to full employment, both the well known `Political Aspects of Full Employment' and `Three Ways to Full Employment', and those which have unfairly received less attention. The editorial comments and annexes at the end of the volume, besides giving valuable information on the background to the main texts, include illuminating exchanges of correspondence between Kalecki and Keynes, Joan Robinson, and others.

Table of Contents:
Part 1: First theoretical studies; Part 2: Towards the theory of business cycles; Part 3: Outline of the business cycle theory: includes the Essay on the business cycle theory; Part 4: The mechanism of the business upswing; Part 5: Confrontation with the Keynesian theory; Part 6: Full employment.

Review :
`superbly careful and illuminating editing ... the papers in this volume allow us to put far more detail into the broad outlines of what we already know of Kalecki's contributions to our understanding of capitalism.' Economic Journal 'Through careful and scholarly editorial commentaries, we now have much more information on the environment in which Kalecki was working and the ways his thinking evolved.' Times Higher Education Supplement 'the volume contains Jerzy Osiatynski's valuable editorial notes, giving background to the papers and describing the intellectual influences on Kalecki's thought ... publication of this volume can only enhance Kalecki's already high reputation and it is essential reading for those interested in the history of early-modern macroeconomics and Marxian economics' Simon Chapple, Victoria University of Wellington, History of Political Economy 24:3 (199) 'These two volumes contain nearly everything Kalecki had to say about capitalism. Both volumes include a wealth of additional material delineating changes in various editions of Kalecki's writings.' Co-operative Economics News Service `The Collection can be undoubtedly helpful in reconstructing the Kaleckian version of the functioning of capitalist system which can be considered as alternative with respect to that of Keynes ... Kalecki's own evolution had been scarsely noticed and often misunderstood. The Collection deserves the credit to have covered this lack of knowledge.' Studi Economici