Abstract
Post-Keynesian economics is known for the several paradoxes that it uncovers by taking macroeconomics as something else than some aggre- gated model with micro-foundations. Among these paradoxes is Michal Kalecki’s paradox, which we can define as the claim that higher govern- ment deficits generate larger profits for the capitalists. Kalecki’s paradox can be derived straight from the national accounts, with a couple of simple behavioural assumptions.
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© 2014 Marc Lavoie
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Lavoie, M. (2014). Macroeconomic Paradoxes with Kalecki and Kaleckians. In: Bellofiore, R., Karwowski, E., Toporowski, J. (eds) Economic Crisis and Political Economy. Palgrave Studies in the History of Economic Thought Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137335753_14
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DOI: https://doi.org/10.1057/9781137335753_14
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-46322-0
Online ISBN: 978-1-137-33575-3
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