Michał Kalecki: Deficit

Michał Kalecki was Polish economist. Explore interesting quotes on deficit.
Michał Kalecki: 32   quotes 0   likes

“In a sense the budget deficit can be considered as an artificial export surplus.”

Michał Kalecki

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 51

Sense

“In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes.”

Michał Kalecki

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 51

“It is the export surplus and the budget deficit which enable the capitalists to make profits over and above their own purchases of goods and services.
The connection between 'external' profits and imperialism is obvious.”

Michał Kalecki

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 52

“Armaments and wars, usually financed by budget deficits, are also a source of this kind of profits.”

Michał Kalecki

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 52

War