Poznań Conference on Kalecki and Kaleckian Economics



Date: September 24-26, 2020

Venue: all virtual

Registration: Please register if possible with your university email account.



All times in New York (UTC-4) time. To make sure that you get the time right please use the time zone converter.


Sponsored by the Review of Political Economy (ROPE), Edward Lipinski Foundation for Promoting Economic Pluralism, Heterodox Publishing House,  the Association for Social Economics (ASE), Polskie Towarzystwo Ekonomiczne (PTE).





1. Jerzy Osiatyński, The Relevance of Kalecki in Financial Capitalism of the 2020s [video]

2. Jerzy Osiatyński, Remembering Kalecki

3. Jerry Courvisanos, Kalecki as a Behavioural economist in the 21st Century [video]

4. Peter Kriesler and Joseph Halevi, Was Kalecki a Marxist? [video]

5. Maria Cristina Marcuzzo, Kalecki and Cambridge [video]

6. Robert Blecker, The Basic Kaleckian Model [video]

7. Malcolm Sawyer, Kalecki and the Case Against Austerity [video]

8. Eckhard Hein, The Eurozone in Crisis – A Kaleckian Macroeconomic Regime and Policy Perspective [video]

9. Jan Toporowski, Kalecki, the Fiscal Deficit and Debt Management [video]

10. Hanna Szymborska, Kalecki’s Challenge to Economic Analysis: Rethinking the Macro-Micro Distinction [video]

11. Amit Bhaduri,  Reforming Capitalist Democracies: Which Way? [video]

12. Marc Lavoie, Overhead Labour Costs in a neo-Kaleckian Growth Model with Autonomous Non-Capacity creating expenditures [video]


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September 24, 2020


9h00 – 9h15



Louis-Philippe Rochon (Laurentian University; Co-editor, Review of Political Economy)



A few words from the Lipinski Foundation


Gracjan R. Bachurewicz (Lipinski Foundation and University of Warsaw)


9h30 – 10h30

Chair: Christine Ngo (Bucknell University)


Remembering Kalecki

Jerzy Osiatynski (Institute of Economics, Polish Academy of Science)


10h45 – 12h15

Chair: Sylvio Kappes (Federal University of Rio Grande do Sul)


Was Kalecki a Marxist?

Peter Kriesler (University of NSW, Australia) and Joseph Halevi (International University College of Turin, Italy)


13h00 – 14h30

Chair: Leanne Usher (Bard College)


Kalecki and Cambridge

Maria Cristina Marcuzzo (University of Rome – La Sapienza, Italy)


14h45 – 16h00

Chair: Ilhan Dögüs (Independent economist)


Kalecki as a Behavioural economist in the 21st Century

Jerry Courvisanos (Federation University Australia, Australia)



September 25, 2020


9h00 – 10h30

Chair: Lidia Brochier (Institute of Economics, Federal University of Rio de Janeiro)


The Basic Kaleckian Model

Robert Blecker (American University, US)


10h45 – 12h15

Chair: Aleksandr V. Gevorkyan (St. John’s University)


Kalecki and the Case Against Austerity 

Malcolm Sawyer (University of Leeds, UK)


13h00 – 14h30

Chair: Paul Alexander Carrillo Maldonado (FLACSO)


The Eurozone in Crisis – A Kaleckian Macroeconomic Regime and Policy Perspective

Eckhard Hein (Berlin School of Economics and Law, Germany)


14h45 – 16h15

Chair: Gracjan R. Bachurewicz (Lipinski Foundation and University of Warsaw)


Kalecki, the Fiscal Deficit and Debt Management

Jan Toporowski (SOAS – University of London, UK)



September 26, 2020


9h00 – 10h30

Chair: Melanie Long (The College of Wooster)


Kalecki’s Challenge to Economic Analysis: Rethinking the Macro-Micro Distinction

Hanna Szymborska (Birmingham City Business School, UK)



10h45 – 11h30

Chair: Pablo Bortz (National University of San Martín and CONICET)


Reforming Capitalist Democracies: Which Way? 

Amit Bhaduri (Professor emeritus JNU, New Delhi, India)


12h30 – 14h00

Chair: Maria Cristina Barbieri Góes (Roma 3 University)


Overhead Labour Costs in a neo-Kaleckian Growth Model with Autonomous Non-Capacity creating expenditures

Marc Lavoie (Professor Emeritus, University of Ottawa and University of Paris Sorbonne)


14h15 – 15h45

Chair: Daniel von Ahlen (Kiel University)


The Relevance of Kalecki in Financial Capitalism of the 2020’s

Jerzy Osiatynski (Institute of Economics, Polish Academy of Science)




Closing remarks

Louis-Philippe Rochon

Marcin Czachor

Gracjan Bachurewicz




Gracjan Bachurewicz is President of the Edward Lipinski Foundation’s Council. A PhD student and teaching assistant at the Department of Banking and Financial Markets at the University of Warsaw, he holds an MA in Econometrics and IT from the Faculty of Economic Sciences, University of Warsaw. He was a one-year visiting PhD student at the University of Groningen. He is a member of the Post-Keynesian Economics Society. He won the first award in the X Edition of the President of National Bank of Poland Competition for the best Master Thesis in Economic Sciences, defended in 2016. His research interests lie primarily in the area of monetary policy, and the Post-Keynesian theory of monetary macroeconomics. In particular, his research focuses on the quantitative easing policy, debt management and the modern monetary theory.


Marcin Czachor is an attorney-at-law, founder of Publishing House Heterodox, and co-founder of the Edward Lipiński Foundation for promoting pluralism in economics. He graduated in law from Adam Mickiewicz University (Poland), Université Libre de Bruxelles (Belgium) and in economics from The University of Campinas (Brazil). He is an Alumni of the The Global Labour University (GLU). His areas of specialization include (but are not limited to) public finance law, banking law, labour law, criminal law and history of economic thought. He is al a Publisher and translator. As a lawyer he closely cooperated with Polish trade unions and Polish labour movement.


Louis-Philippe Rochon is Full Professor of Economics at Laurentian University, Canada, where he has been teaching since 1994. Before that, he taught at Kalamazoo College, in Michigan. He obtained his doctorate from the New School for Social Research, in 1998, earning him the ‘Frieda Wunderlich Award for Outstanding Dissertation’, for his dissertation on endogenous money and post-Keynesian economics. Since January 2019, he is the editor of the Review of Political Economy.  He is also the founder and past editor (now emeritus) of the Review of Keynesian Economics. He has been guest-editor for the Journal of Post Keynesian Economics, the International Journal of Pluralism and Economics Education, the European Journal of Economic and Social Systems, the International Journal of Political Economy, and the Journal of Banking Finance and Sustainable Development. He has published on monetary theory and policy, post-Keynesian economics, and fiscal policy.


He is on the editorial board of Ola Financiera, International Journal of Political Economy, the European Journal of Economics and Economic Policies: Intervention, Problemas del Desarrollo, Cuestiones Económicas (Central Bank of Ecuador), and Bank & Credit (Central Bank of Poland). He is the Editor of the following book series: the Elgar Series in Central Banking and Monetary Policy, Heterodox Undergraduate Introductions Series, and New Directions in Post-Keynesian Economics. His forthcoming books include The Future of Central Banking (Edward Elgar Publishing, 2021), A Short History of Economic Thought (Edward Elgar Publishing, 2020), Employment in the Age of Austerity (Edward Elgar Publishing, 2020, co), as well as two volumes honouring the work of Marc Lavoie and Mario Seccareccia.


He has been a Visiting Professor of Visiting Scholar in Australia, Brazil, France, Italy, Mexico, Poland, South Africa, and the United States, and has further lectured in China, Colombia, Ecuador, Italy, Japan, Kyrgyzstan, and Peru.  He is the author of some 150 articles in peer-reviewed journals and books, and has written or edited close to 30 books. He has received grants from the Social Sciences and Humanities Research Council in Canada (SSHRC), the Ford Foundation, and the Mott Foundation, among other places.





Amit Bhaduri received his Ph.D. from the University of Cambridge in 1967. He has taught in various universities around the world, and worked on various expert bodies of the United Nations. He has published more than seventy papers in standard international journals and is currently on the editorial board of five journals. He has written eight books, many of which were translated into several languages. He was internationally selected professor (of ‘clear fame’) in Pavia University, Italy until he gave it up in 2009, and recently resigned as professor emeritus, in J. Nehru University in New Delhi. He was awarded several prizes for his research, and was awarded the Leontief Prize, Global Development and Environment, Tufts University (2016), USA, the Indian Council Of Social Science Research Prize in Economics, (1985) Stevenson Prize For the Ph.D Research in Economics, Cambridge University (1967).


Robert A. Blecker is Professor of Economics at American University (AU), Washington, DC, United States, Affiliated Faculty of AU’s School of International Service and Center for Latin American and Latino Studies, and a Fellow of the Forum for Macroeconomics and Macroeconomic Policy. His most recent book is Heterodox Macroeconomics: Models of Demand, Distribution and Growth (co-authored with Mark Setterfield, Edward Elgar Publishing, 2019). His previous books include Fundamentals of U.S. Foreign Trade Policy: Economics, Politics, Laws, and Issues, 2nd edition (co-authored with Stephen D. Cohen and Peter D. Whitney, Westview, 2003) and Taming Global Finance: A Better Architecture for Growth and Equity (Economic Policy Institute, 1999). His research includes work on post-Keynesian models of open economies, international trade theory and policy, economic integration in North America, global imbalances and the US trade deficit, the Mexican economy, North-South trade and export-led growth.


Jerry Courvisanos is Associate Professor of Innovation and Entrepreneurship, Federation Business School, Federation University Australia and foundation member of Réseau de Recherche sur L’Innovation (RRI). Kalecki provides the foundation for Jerry’s research focus on behaviour and processes of innovation and investment affecting expenditure, business cycles, sustainable development and long-term trajectory of businesses and the economy. This work informs applied research into innovation and entrepreneurial activity for regional development, along with mapping resilience to withstand shocks and crises in core and peripheral regions. Jerry has supervised many PhD students. He has also advised local councils, regional development boards and social service organisations on effective approaches to identifying economic strengths and establishing new activities. Apart from peer-reviewed articles and book chapters, Jerry has solo-authored two books with a Kaleckian focus – Investment Cycles in Capitalist Economies (Edward Elgar, 1996) and Cycles, Crises and Innovation (Edward Elgar, 2012).



Joseph Halevi was born in Haifa, then in British Palestine now in Israel, on 6 of November 1946. He studied at the University of Rome La Sapienza, and taught at the New School for Social Research in New York, at Rutgers University in New Jersey and then at the University of Sydney from which he retired in 2016. He was visiting professor at La Sapienza in Rome in 1983 and at the University of Connecticut in 1985-1987. From 1987 to 2009 he has been alternating as a visiting professor between the Universities of Grenoble, Nice, and of Picardie at Amiens. Since 2010 he has been a professor at the International University College in Turin. His most recent work is titled The Political Economy of Europe Since 1945 published as three INET working papers in the Fall of 2019.


Eckhard Hein is a Professor of Economics at the Berlin School of Economics and Law, the Co-Director of the Institute for International Political Economy Berlin (IPE), a member of the coordination committee of the Forum for Macroeconomics and Macroeconomic Policies (FMM), and a managing co-editor of the European Journal of Economics and Economic Policies: Intervention. He has published widely in refereed academic journals, such as the Cambridge Journal of Economics, the Journal of Post Keynesian Economics, Metroeconomica, the Review of Keynesian Economics,the Review of International Political Economy and the Review of Political Economy, among several others. Among his latest books are The German Financial System and the Financial and Economic Crisis (co-author, Springer International, 2017), Distribution and Growth after Keynes: A Post-Keynesian Guide (Edward Elgar, 2014), The Macroeconomics of Finance-dominated Capitalism – and its Crisis (Edward Elgar, 2012).


Peter Kriesler studied at the University of Sydney and at Cambridge University, and taught at the School of Economics at the University of New South Wales. He has a strong interest and has published in the fields of human rights, the factors determining employment, economic growth and sustainability, economic policy, history of economic thought and heterodox economics. He is on the editorial board of a number of journals including The Cambridge Journal of Economics, The Journal of Post Keynesian Economics and The Economic and Labour Relations Review, and editor of book series for Routledge and Palgrave Macmillan. His selected papers have been published in  4 volumes edited with Joseph Halevi, Geoff Harcourt, Peter Kriesler, John Nevile;  by Palgrave Macmillan in 2016.


Marc Lavoie has recently ended a three-year position as a Senior Research Chair from the University Sorbonne Paris Cité. He is now Emeritus Professor at the University of Paris 13 and Emeritus Professor at the University of Ottawa, where he taught for 37 years. He is a Research Fellow at the Macroeconomic Research Institute of the Hans Böckler Foundation in Düsseldorf and a Research Associate at the Broadbent Institute in Toronto. Lavoie has published 10 books and over 150 refereed articles and 80 book chapters, mostly in macroeconomics – monetary economics and growth theory – but also in other fields such as the economics of sports. He is best known for his book with Wynne Godley, Monetary Economics (2007), which is considered a must-read for users of the stock-flow consistent approach. His latest book, Post-Keynesian Economics: New Foundations, received the 2017 Myrdal Prize from the European Association of Evolutionary Political Economy. He is a co-editor of two academic journals and is on the editorial board of 10 other journals.


Maria Cristina Marcuzzo is Professor of Political Economy at the University of Rome, “La Sapienza”, Italy and Fellow of the Italian Academy of Lincei. Former President of the European Society for the History of Economic and the Italian Society for the History of Political Economy. She has worked on classical monetary theory, the Cambridge School of Economics, and Keynesian economics. She has published about 100 articles in journals and books, plus authoring or editing 20 volumes. Collections of her essays have been published by Routledge (Fighting market failure, 2012) and recently by Cambridge Scholars Publishing (Essays in Keynesian Persuasion, 2019).



Jerzy Osiatyński is professor at the Institute of Economics of the Polish Academy of Sciences. He graduated the Warsaw School of Economics (at that time: the Main School of Planning and Statistics) in 1964, and in 1989 received the title of Professor of Economic Sciences.  He was the chairman of the Research Council of the Institute of Economic Sciences of the Polish Academy of Sciences (2007-2013) and member of the Committee on Economic Sciences of the Polish Academy of Sciences (2007-2011 and again since 2020); member of NBP Economic Research Committee (2009-2011); member of the National Development Council of the President of the Republic of Poland (Jan.-April 20100 and economic adviser to the President of the Republic of Poland (2010- 2013). In 2001-2013 he taught at the Bielsko-Biała School of Finances and Law and in 2016-2018 at the Warsaw School of Economics.  He was the Minister – Head of the Central Planning Office (1989-1991) and minister of finance (1992-1993). In 1990, he was awarded Doctor Honoris Causa from New York University. In 1995-2008, he was a consultant for the World Bank, for the United Nations Development Programme and for other international and non-government organisations in the area of economic transformation, notably in Central and Eastern Europe and the Commonwealth of Independent States. He was a Member of Parliament (1989-2001) In 2013-2019 he was a member of Monetary Policy Council of the National Bank of Poland. A former student and assistant to Kalecki, Osiatyński is the editor of the six volume-long Polish edition of Kalecki’s Collected Works (Warsaw, PWE, 1979-1988), and of the seven volume-long their English edition (Oxford, Clarendon Press, 1990-1997), and an author of several dozens of research papers.



Malcolm Sawyer is Emeritus Professor of Economics, University of Leeds, UK. He was the lead co-ordinator for the EU funded 8 million euro, 15 partner, five year project on Financialisation Economy Society and Sustainable Development (www.fessud.eu). He was managing editor of International Review of Applied Economics for over 30 years, and served on a range of editorial boards. He is the editor of the book series New Directions in Modern Economics (Edward Elgar) and co-edits (with Philip Arestis) the annual International Papers in Political Economy (Palgrave Macmillan). Author of 12 books including The Economics of Michał Kalecki, Macmillan; most recently Can the Euro Survive?, Polity Press, and currently working on The Power of Finance: Financialization and the Real Economy to be published by Agenda. He has edited or co-edited over 30 books. He has published over 135 papers in refereed journals and contributed over 160 book chapters on a wide range of topics including on financialisation, the eurozone, fiscal policies and alternatives to austerity, money, public private partnerships, and on Kalecki and Kaleckian economics.


Hanna Szymborska is a senior lecturer in economics at Birmingham City University in the UK. She has previously worked at the Open University and the UK Civil Service, and has completed her PhD at the University of Leeds. She researches wealth inequality and financialisation through heterodox perspectives, investigating relationships between macroeconomic policy, financial sector operations, and wealth disparities across social classes, gender, and race. She has published in peer reviewed journals, blogs and magazines, and has also contributed to edited volumes. She is a co-founder of “Diversifying and Decolonising Economics”.


Jan Toporowski is Professor of Economics and Finance at the School of Oriental and African Studies, University of London, Visiting Professor of Economics at the University of Bergamo, Italy, and Professor of Economics and Finance at the International University College, Turin, Italy. He studied economics at Birkbeck College, University of London, and the University of Birmingham. He has worked in fund management, international banking, economic consultancy and central banking, and has published widely on money, finance and economic development, monetary policy and the history of economic thought. He is the author of a two-volume biography of Michał Kalecki.





Daniel von Ahlen is an M.Sc. student in economics at the university of Kiel, Germany. His research interests lie in the fields of monetary economics and forecasting. He gained practical experience in banking and asset management and currently holds a position in the asset management industry in Munich. He is affiliated with INET’s Young Scholar Initiative and has contributed to several projects in the past.


Pablo G. Bortz is Professor and co-director of the Master on Development Economics at the National University of San Martin, Argentina, and professor at the National University of the West, also in Argentina. He is tenured researcher at the National Council of Sciences and Technology. He obtained his Ph.D. at the Delft University of Technology. He worked at UNCTAD, and at the Ministry of Economy, the Ministry of Foreign Affairs and the Central Bank of Argentina. He published in journals such as Development and Change, Review of Keynesian Economics, Problemas del Desarrolloand European Journal of Economics and Economic Policies. He is the author of Inequality, Growth and “Hot Money”(Edward Elgar).


Lídia Brochier is an Assistant Professor of the Institute of Economics and the Graduate Program in Economics of the Federal University of Rio de Janeiro (UFRJ), Brazil.  Her current research focuses on demand-led growth and the dynamics of autonomous expenditures, using stock-flow consistent models. Her work has been published by international peer-reviewed journals, such as the Cambridge Journal of Economics and Metroeconomica: International Review of Economics. She is also currently one of the coordinators of the Research Seminars of the Graduate Program in Economics at the Institute of Economics (UFRJ).


Ilhan Dögüs was born in Elbistan, Turkey in 1983. He received his PhD degree in Economics in November 2017 from the University of Hamburg where he has worked as a Research Associate between 2014 and 2017. Between August 2018 and February 2019, he was Post-Doc Scholar of the Claussen-Simon Foundation at the University of Hamburg and Post-Doc Research Associate between March 2019- March 2020 at the University of Rostock. He has taught Introduction to Economics, Distribution and Growth, Industrial Economics, Competition and Allocation and Finance and Economic Policy. His main research interests are wage inequality, financialisation, market structure and bargaining power of labour.


Aleksandr V. Gevorkyan is the Henry George Chair in Economics and Associate Professor of Economics at the Department of Economics and Finance of the Peter J. Tobin College of Business at St. John’s University in New York City. He is a Senior Research Fellow at the Vincentian Centre for Church and Society, a Research Fellow at the Center for Global Business Stewardship, and a Board Member at the Henry George School of Social Science and at the Armenian Economic Association. He serves as Economics Subject Matter Expert for the Permanent Observer Mission of the Holy See To the United Nations. Dr. Gevorkyan is the author of Transition Economies: Transformation, Development, and Society in Eastern Europe and the Former Soviet Union (Routledge, 2018).


Maria Cristina Barbieri Góes is a Ph.D. candidate in Political Economy at Roma Tre University. In her dissertation, she focuses on the roles of distribution, as well as monetary and fiscal policy for economic growth. She was first inspired to study distribution and growth while reading Kalecki’s “Theory of Economic Dynamics” during her undergraduate years at UNICAMP (University of Campinas – Brazil). She holds a Masters from the University Sorbonne Paris Cité and the Berlin School of Economics and Law (BSEL).


Sylvio Antonio Kappes holds a Ph.D in Development Economics by the Federal University of Rio Grande do Sul, Brazil. His main areas of research are Stock-flow Consistent models, Institutional Economics, income distribution and monetary policy. His work has been published in a number of peer-reviewed journals, such as the Journal of Post Keynesian Economics and the Brazilian Keynesian Review. He is a co-editor of the “Elgar Series on Central Banking and Monetary Theory”, together with Louis-Philippe Rochon and Guillaume Vallet. He is also a coordinator of the Keynesian Economics Working Group of the Young Scholars Initiative (YSI) of the Institute for New Economic Thinking (INET).


Melanie Long is an Assistant Professor of Economics at the College of Wooster in Wooster, Ohio. Her research documents gender and racial inequality in U.S. consumer credit and housing markets and explores the impacts of such inequality on household financial stability. She completed her PhD in Economics at Colorado State University in 2019 and received a B.A. in Economics from Westminster College in 2014.


Paul Carrillo-Maldonado is an engineer in Economic and Financial Sciences from the National Polytechnic School (EPN), Ecuador.  He holds a B.A. of Economics from the Jean Monnet University (France), and a Master’s Degree in Economics with a major in Development Economics from FLACSO-Ecuador. He is currently a PhD Candidate in Development Economics, at FLACSO-Ecuador. He has worked at the Central Bank of Ecuador, the Internal Revenue Service of Ecuador, the Coordinating Ministry of Economic Policy of Ecuador, and at the Inter-American Development Bank and Economic Commission for Latin American and Caribbean. His fields of interest are Macroeconomics, Economic Policy, Distribution, Econometrics, Time Series. His doctoral dissertation is on Kaleckian relationships between Functional Distribution and Growth to Latin American countries.


Christine Ngoc Ngo is Assistant Professor of Economics at Bucknell University in Pennsylvania. She received a Ph.D. in Economics from the School of Oriental and African Studies (SOAS), University of London in the United Kingdom and a Juris Doctor from the University of California Hastings College of the Law in San Francisco. She is the author of Rent Seeking and Development: The Political Economy of Industrialization in Vietnam (Routledge, 2020). She has published papers in Journal of Evolutionary Economics, Review of Political Economy, Journal of Economic Issues, Canadian Journal of Development Studies, Journal of Contemporary Asia and European Journal of East Asian Studies. She has worked as Associate Economic Affairs Officer for the United Nations Conference for Trade and Development (UNCTAD) in Geneva, Switzerland, and as a consultant for the United Nations Development Programme (UNDP), the World Bank, German Society for International Cooperation (GIZ) and a number of government agencies in Vietnam. Her most recent research project analyzes the impacts of artificial intelligence, robotics and the Internet of Things on the future of work in the US.


Leanne Ussher  is Visiting Assistant Professor in Economics and Finance at Bard College, Associate Editor of Frontiers Blockchain, Senior Economist at the Hudson Valley Current (a local currency cooperative) and Blockchain Research Fellow at Wolfram Research. Her research specializes in monetary theory, market microstructure, computational economics, cryptoeconomics and the history of economic thought.  She has publications focused on the microstructure of financial systems, systemic risk, agent based modeling or bottom up macroeconomics, network analysis of corporate finance, network analysis of local currencies, and looking into the applications of blockchain and decentralized ledgers.  Leanne is a co-founder of the New York City Computational Economics and Complexity Workshop, and an Affiliate Scholar with the Institute for Advanced Sustainability Studies, Potsdam Berlin. She was previously a Senior Researcher on blockchain ecosystems at Consensys, consultant to the CFA Institute on international monetary reform, and Securities Analyst at the Reserve Bank of Australia.