Interest and Capital: The Monetary Economics of Michał Kalecki

Interest and CapitalThe Monetary Economics of Micha? Kalecki\nAuthor(s): Jan Toporowski\nFormat: Hardback\nPublisher: Oxford University Press, United Kingdom\nImprint: Oxford University Press\nISBN-13: 9780198816232, 978-0198816232\nSynopsis\nInterest and Capital brings together Micha? Kalecki's published fragments on monetary theory and policy to explore his distinctive approach to money and its circulation in the capitalist economy. Toporowski lays out Kalecki's critique of the international monetary arrangements proposed by Keynes and White at Bretton Woods, casting new light on the international monetary imbalances that have since disrupted the international economy. The greater importance of debt management revealed in Kalecki's monetary analysis makes it particularly relevant to the policy dilemmas of developing countries and governments facing high levels of debt in the wake of recent global crises. In Kalecki's theoretical approach, money has both an industrial and a financia.