This volume of intellectual biography records the work of Michał Kalecki’s maturity: his work on monetary economics and the theory of profits; his work on the problems of socialism and developing countries; and the extension of his theory of capitalism to define his work in relation to Keynes...

The present discussions about the future of bank regulation, coming after a long period of bank deregulation, have a natural tendency to exaggerate the effectiveness of regulation. But those discussions are poorly rooted in the macroeconomic foundations of bank intermediation, including its...

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...

This vital Handbook is an authoritative volume presenting key issues in finance that have been widely discussed in the financial markets but have been neglected in textbooks and the usual compilations of conventional academic wisdom. A wide range of topics including the recent economic crisis,...