“Generally speaking, changes in the prices of finished goods are "cost determined" while changes in the prices of raw materials inclusive of primary foodstuffs are "demand determined."”

Source: Theory of Economic Dynamics (1965), Chapter 1, Cost and Prices, p. 11

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Michał Kalecki16

Polish economist 1899–1970

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“Generally speaking, changes in the prices of finished goods are "cost determined" while changes in the prices of raw materials inclusive of primary foodstuffs are "demand determined."”

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Michał Kalecki16

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