Kalecki's ideas on economic functioning are discussed in this book, followed by an analysis of his contributions to the theories of long-run planning and growth under socialism. His ideas on social aspects of economic development under socialism are discussed.

The fourth of seven volumes comprising the definitive scholarly edition of the works of Michal Kalecki, one of the most distinguished of 20th-century economists. This volume contains Kalecki's studies on the functioning of the socialist economy and on long-run planning.

The volume focuses on the socio-political aspects of economic transformations in the Eastern European Socialist countries. Particular emphasis is laid on the problem of interrelations between the plan and the market and between economic incentives and social consumption. The volume also examines economic and political factors in the wider political context, particularly looking at the question of democratization within industry and politics.

This book presents a thorough evaluation of Michal Kalecki's theory of the capitalist economy. It provides readers with a complete view of Kalecki's theory, including his very important writings on the economics of underdeveloped countries.

This fourth volume in a new definitive seven-volume edition in English of the works of Michal Kalecki contains his writings on the theory of growth of a socialist economy and the theory of economic efficiency of investment, supplemented by essays on some economic and social problems of People's Poland. Though quite theoretical in nature, the Introduction to the Theory of Growth in a Socialist Economy and Kalecki's many studies in the theory of economic efficiency of investment projects are all deeply rooted in his practical experience as an economic planner. It is only in this light that the significance of his contributions to the theory of growth in a socialist economy and the theory of economic efficiency of investments can be assessed, and his ideas on socialist reproduction can be seen as a whole. Its central point is economic planning, which for Kalecki was the fundamental feature of a socialist economy. The editorial notes and annexes at the end of the volume not only provide invaluable background information and explanatory glossing to the main text, but also give - in many cases for the first time in published form - invaluable insights into the development of Kalecki's thought through his correspondence with Canes, Joan Robinson, and others.