Economics Dictionary of Arguments

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Mause I 227
Economy/Kalecki: Unlike the New Political Economy, the post-Keynesian political economy in the Kalecki tradition (1) assumes that political decision-makers in economic policy are primarily oriented towards the goals of financially strong interest groups. In particular during an economic downturn, stabilisation measures could be omitted if a prolonged high level of unemployment appears necessary in order to obtain concessions from trade unions and workers in the area of wage claims or social security. The austerity policy resulting from the euro crisis from 2010 can be interpreted in this sense (Krugman 2013 (2)).
VsKrugman, VsKalecki: see Economic Cycle/Public Choice.

1. Michal Kalecki, In Collected works of Michal Kalecki, Hrsg. Jerzy Osyatinski. Oxford 1973.
2. Paul Krugman, Phony fear factor. New York Times, 9. August 2013, A19.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

EconKale I
Michal Kalecki
The political aspects of full employment Oxford 1973

Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018

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