Kalecki explained debt resolution by means of a fable about monetary circulation between mutually indebted individuals. This chapter generalizes the processes of debt payment in that fable to show how interest and debt payments depend on the financial circulation of money, rather than profits or...

Theories of Financial Disturbance examines how the operations of market-driven finance may initiate and transmit disturbances to the economy at large, by looking in detail at how various economists envisaged such disturbances occurring