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Michal Kalecki

Michal Kalecki Biography

Economist

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“The capitalists of a country which manages to capture foreign markets from other countries are able to increase their profits at the expense of the capitalists of the other countries. Similarly, a colonial metropolis may achieve an export surplus through investment in its dependencies.”

MayCountryAbleAchieveIncreaseInvestmentProfitManageExpensesCaptureCapitalistOther CountriesDependencySurplusMetropolis
Book:Selected Essays on the Dynamics of the Capitalist Economy 1933-1970
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“It is indeed paradoxical that, while the apologists of capitalism usually consider the 'price mechanism' to be the great advantage of the capitalist system, price flexibility proves to be a characteristic feature of the socialist economy.”

EconomyProveCapitalismAdvantageFeaturesCharacteristicsMechanismCapitalistSocialistFlexibilityParadoxicalSocialist Economy
Book:Selected Essays on the Dynamics of the Capitalist Economy 1933-1970
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