Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained." - Meaning and context.">
QuotesCosmos
Part 2, Chapter 8, Workers and Bosses, p. 104
“

Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained.

— Jim Stanford

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained." in the context of "Part 2, Chapter 8, Workers and Bosses, p. 104" to mean that wisdom is timeless.

Quote Image
Source: Wikiquote: "Jim Stanford" (Sourced, Economics For Everyone (2008)) The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app

Tags

#Jim Stanford#employment#kalecki#neoliberalism#institutional#relationship#fundamental#wagesetting#especially#precisely#predicted#political
Jim Stanford

About Jim Stanford

Jim Stanford is the resident economist for the Canadian Auto Workers and founder of the Progressive Economics Forum. He holds a Master’s degree in Economics from Cambridge University, and a Ph.D. from the New School for Social Research.