Michal Kalecki

Michal Kalecki (1899-1970) was a Polish Marxian economist who developed theories of the business cycle and effective demand independently of, and by most accounts several years before, John Maynard Keynes. Many economists regard him as having produced a system containing much of what became known as Keynesian economics along with additional contributions on income distribution, investment and monopoly power, synthesizing Marxist class analysis with the theory of oligopoly. He worked at the London School of Economics, Cambridge, Oxford and the Warsaw School of Economics, and advised the governments of Poland, France, Cuba, Israel, Mexico and India as well as serving as deputy director of the United Nations Economic Department.