Heterodox
Michał Kalecki’s paper “Political Aspects of Full Employment” (1943) is an interesting paper.Kalecki first notes that most economists had by 1943 come to accept that governments can crate full employment by aggregate demand management and by central bank control of the interest rate (Kalecki 1943: 322–323).But then Kalecki notes that the political opposition to full employment policies had been quite severe in the 1930s, and makes this rather remarkable statement:“There are, however, even...
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