Collected Works of Michal Kalecki: Volume III. Socialism: Functioning and Long-Run Planning: (Collected Works of Michal Kalecki)

This is the third of seven volumes comprising the definitive scholarly edition of the works of Micha/l Kalecki, one of the most distinguished twentieth-century economists and one of the trio who arrived at the conclusions promulgated by Keynes around the time - and in Kalecki's case arguably earlier - than Keynes himself. Nearly half the material to appear in the seven volumes has never been previously published in English and includes revisions and additions made in the light of recent research, including information about the relationship of Kalecki's ideas to the ideas of contemporary economic theory. This third volume contains Kalecki's studies on the functioning of the socialist economy and on long-run planning, with special reference to Poland. Kalecki made an extensive contribution to the debates on Poland's post-war reconstruction, and especially on the system of planning and management of the Polish economy in 1955-64 and much of his work was unpublished until the 1980's. His activities throughout this period were so varied - on the practical level as well as on the theoretical - that the volume contains nearly all the material which has survived - Kalecki's correspondence, notes, records of his contribution to debates, and memoranda, providing an opportunity to survey Kalecki's activities related to the functioning of the Polish post-war economy.

Table of Contents:
Part 1: Problems of Post-War Reconstruction: Remarks on rationing and the price system; Observations on savings and money circulation in Poland; Financial plans for the second half of 1946 and the first half of 1947. Part 2: System of Functioning of the National Economy: Liberalization in the management of small industry; Material incentives in a Socialist economy; Workers' Councils and central planning; Do not over-estimate the role of the model; The vertically integrated firm as an element in the new economic model; Material incentives in the new economic model; Outline of a new system of incentives and directives; Some comments on the organization of an English concern; Part 3: Prices: Observations on the pricing of basic raw materials; Debate on the prices of basic raw materials; On the prices of basic raw materials; Central price determination as an essential feature of a socialist economy; Problems of a uniform price system within the CMEA countries; Remarks on factory prices, production indicators, and quality control

Review :
'There are major insights into the politics of socialism here. As with the best economic analyses, these papers defy narrow categorisation, and few economists will obtain no profit from reading them.' Jan Toporowski, The Economic Journal, May 1994