Özet:

This paper examines Michal Kalecki’s economic analysis and argues that this analysis, even if it displays some important similarities to the Keynesian theory, takes its root from the Classical-Marxian school of thought. The basic argument of the paper is that the three building blocks of Kalecki’s economic analysis, namely the principle of effective demand, distribution theory and Kalecki’s theory of imperfect competition that is known as the “degree of monopoly”, together stretches the extent of economic analysis beyond Keynesian short term influences, especially to the problems of long run capital accumulation, for it emphasizes the effects of the changes in the distributive shares and in investment on the capital accumulation process, which gives capitalist system its fundamental instability. However, the paper also argues, the fact that Kalecki’s analysis overlooks the formation of long run equilibrium values of prices, or the “centers of gravity”, upon which the Classical-Marxian school focusses, restricts this approach’s analytical power which could make it a real alternative to the orthodox economics.

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