Tracy Mott's Understanding of Kalecki's Economics

Toporowski, Jan

Abstract

Following his death in 1970, interest in Kalecki’s economics has come to be confined to Post-Keynesian circles and discussions of political economy. In general, these have provided partial accounts of Kalecki’s ideas, to supplement gaps in the theories of Keynes, Marx and their followers. Tracy Mott’s work departs from this by placing Kalecki’s economic theories around their foundation point in the financing of capitalist business. This provides a more systematic approach to Kalecki’s account of capitalism. It also points to a monetary interpretation of Kalecki’s Principle of Increasing Risk that was central to Mott’s understanding of Kalecki’s economics and an original interpretation of debt structures.

Citation

Toporowski, J. (2023). Tracy Mott's Understanding of Kalecki's Economics. Journal of Post Keynesian Economics, 46(4), 517-526. https://doi.org/10.1080/01603477.2023.2242327

• Journal Article Type: Article
• Acceptance Date: Jul 27, 2023
• Online Publication Date: Nov 1, 2023
• Publication Date: Nov 1, 2023
• Deposit Date: Jul 28, 2023
• Publicly Available Date: Nov 10, 2023
• Journal: Journal of Post-Keynesian Economics
• Print ISSN: 0160-3477
• Electronic ISSN: 1557-7821
• Publisher: Taylor and Francis Group
• Peer Reviewed: Peer Reviewed
• Volume: 46
• Issue: 4
• Pages: 517-526
• DOI: https://doi.org/10.1080/01603477.2023.2242327
• Keywords: Tracy Mott, Michał Kalecki, money, risk
• Publisher URL: https://www.tandfonline.com/doi/full/10.1080/01603477.2023.2242327