Collected Works of Michal Kalecki: Volume IV: Socialism: Economic Growth and Efficiency of Investment

This is the fourth of seven volumes comprising the definitive scholarly edition of the works of Michal Kalecki, one of the most distinguished of 20th-century economists. It contains Kalecki's studies on the functioning of the socialist economy and on long-run planning.
This volume contains Kalecki's writings on the theory of growth of a socialist economy and the theory of economic efficiency of investment. These are supplemented by essays on some economic and social problems of People's Poland.

Though quite theoretical in nature, both the Introduction to the Theory of Growth in a Socialist Economy and Kalecki's many studies in the theory of economic efficiency of investment projects are deeply rooted in his practical experience as an economic planner. It is only in this light that the significance of his contributions to the theory of economic efficiency of investments can be assessed, and his ideas on socialist reproduction can be seen as a whole. Its central point is
economic planning, which for Kalecki was the fundamental feature of a socialist economy.