Michał Kalecki: A Life Shaped by Turbulence

This chapter examines the formative experiences of Michał Kalecki, a Polish-Jewish economist, in early 20th century Poland and how his background influenced his innovative economic theories. It highlights his intellectual journey, the impact of Marxism and Keynes on his work, and his critical approach to capitalism, emphasizing the role of labor in driving economic development. Additionally, the chapter contrasts Kalecki's and Marx's views on value and exploitation, illustrating their differing contributions to understanding economic crises and labor relations.