Questions for Kaleckians^∗

Abstract

Two central facts about modern industrial economies are that productive processes (a) use produced inputs and (b) produce more than one kind of output. Yet the Kaleckian mark–up theory of pricing and of distribution, which purports to be empirically realistic and concerned with modern industrial economies, pays little or no attention is paid to these real world phenomena, it is found that a number of familiar Kaleckian constructions and claims are inappropriate or unjustified; a summary of the difficulties which arise will be found at the end of the article.