“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

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Michał Kalecki 16

Polish economist 1899–1970

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