Michał Kalecki: Profit

Michał Kalecki was Polish economist. Explore interesting quotes on profit.

Michał Kalecki: 32 quotes0 likes

“The capitalists of a country which manages to capture foreign markets from other countries are able to increase their profits at the expense of the capitalists of the other countries. Similarly, a colonial metropolis may achieve an export surplus through investment in its dependencies.”

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

“[C]apitalist savings 'lead' profits. This result may appear paradoxical. 'Common sense' would suggest the opposite sequence—namely, that savings are determined by profits. This, how ever is not the case.”

Michał Kalecki

Source: Theory of Economic Dynamics (1965), Chapter 4, Profits and Investments, p. 55