Jan Toporowski on Michael Kalecki and Why Capitalists Dislike Full Employment | Odd Lots
发布时间 2023-02-08 18:27:49 来源
摘要
In the wake of the Great Financial Crisis, the work of John Maynard Keynes experienced a revival, as people sought answers to the problem of sluggish growth. In this cycle, sluggish growth isn't the problem. If anything, you hear business leaders and central bankers talking about the labor market being "too hot," and the need for the unemployment rate to rise. So what explains the current dynamic? And how can we sustain a hot economy without the pain of inflation? Perhaps the work of the less well-known Polish economist Michał Kalecki holds the answers. Like Keynes, he also viewed the free market as being inherently unstable. But he came to different answers about why. He also explored the political economy of full employment, and why this condition frustrates business leaders. On this episode, we speak with economist Jan Toporowski, a Professor of Economics and Finance at SOAS University of London about Kalecki's work, and how it can help us understand today's economy.
Bloomberg's Odd Lots podcast features Joe Weisenthal and Tracy Alloway in conversation with the most interesting minds in finance, economics and markets.
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