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Lectures in Macroeconomics – A Capitalist Economy Without Unemployment - Oxford Scholarship Online
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Lectures in Macroeconomics: A Capitalist Economy Without Unemployment

Kazimierz Łaski, Jerzy Osiatyński, and Jan Toporowski


These lectures in macroeconomics explain the theory and policy implications of macroeconomics in a systematic and logically consistent way. Central to this analysis is the principle of aggregate demand as formulated by the Polish economist Michał Kalecki, who is best known as the originator, along with Keynes, of the Keynesian Revolution in macroeconomics. The lectures cover the main components of aggregate demand, showing the key importance of firms’ investment for total output, employment, and economic growth in both closed and open economies. The main influences on investment are explained ... More

Keywords: wages, profits, aggregate demand, investment, consumption, national income, foreign trade, Michał Kalecki, John Maynard Keynes

Bibliographic Information

Print publication date: 2019 Print ISBN-13: 9780198842118
Published to Oxford Scholarship Online: August 2019 DOI:10.1093/oso/9780198842118.001.0001


Affiliations are at time of print publication.

Kazimierz Łaski, author

Jerzy Osiatyński, editor
Institute of Economics of the Polish Academy of Sciences; Member of Monetary Policy Council, National Bank of Poland

Jan Toporowski, editor
SOAS, University of London, UK and International University College Turin, Italy