The Relevance of Kalecki: The Useable Contribution

The paper is a to date unpublished contribution by Minsky prepared for a conference at the University of Perugia held in 1986. It contains Minsky's assessment of Kalecki's contribution. According to Minsky, the question of Kalecki's priority over Keynes with respect to the construction of useable macroeconomics is of secondary importance. What is important is that both Kalecki and Keynes provide elements that are essential components for understanding the behavior of economies with complex financial structures. This is the measure of Kalecki's greatness.