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Michał Kalecki -
Deficit
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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
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Armaments and wars, usually financed by budget deficits, are also a source of this kind of profits.
Michał Kalecki
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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
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In a sense the budget deficit can be considered as an artificial export surplus.
Michał Kalecki
Quote of the day
In deep sadness there is no place for sentimentality.
William S. Burroughs
Michał Kalecki
Creative Commons
Born:
June 22, 1899
Died:
April 18, 1970
(aged 70)
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