Michael Kalecki was a Polish economist who independently discovered many of the key concepts of what is now identified as Keynesian theory. His contribution to macroeconomics was late in being acknowledged, but his work can be seen to have resounding influence on some of today's economic problems. The analyses presented in this book serve to scrutinize Kalecki's theories and show both their significance for explaining the working of modern economies and the areas that need adaptation to changed circumstances.

Crucial issues in the present world economy covered in this book include:

* the pattern of cyclical recession and financial crises
* historically high levels of unemployment and poverty
* neoliberal economic policies