Kalecki vs. Keynes: The Battle of Economic Theories

This chapter explores the contrasting perspectives of economists Michal Kalecki and John Maynard Keynes, highlighting Kalecki's focus on social division and distribution compared to Keynes' more individualistic approach. It emphasizes Kalecki's key theoretical contributions, including the Kalecki-Profit Equation and his advocacy for government intervention to ensure full employment and address power imbalances in capitalism. The chapter also examines the potential political ramifications of economic policies, advocating for reform to promote equitable economic relations.