The article is a contribution to the ongoing series on the future of reformed capitalism. The author attempts to shed some light on the past and the present of capitalism as reinstated in Poland over the years 1989-2020 and on its turn to illiberal democracy since 2015. At the end, the article...

The paper presents some crucial fiscal and monetary actions proposed by John M. Keynes in order to struggle with the consequences of the Great Depression. The recent world financial crisis lasting since 2007–2008 restored their significance and efficiency. Nowadays, Keynes’s proposals are...

The paper summarizes the discussion among Łaski's inner circle regarding the relevance of Kaleckian treatment of money under financial capitalism. The context of that debate was the project of a joint textbook in macroeconomics, the building blocks of which would be Kalecki's theory, and which...

First, the concept of public expenditure multiplier is redefined to allow for import intensity of exports, and its value is estimated for Poland and the Czech Republic in 2008-2009. Next, on the basis of effective demand model of economic dynamics, there follows a comparative analysis of GDP...