In the wake of the Great Financial Crisis, the work of John Maynard Keynes experienced a revival, as people sought answers to the problem of sluggish growth. In this cycle, sluggish growth isn't the problem. If anything, you hear business leaders and central bankers talking about the labor market being "too hot," and the need for the unemployment rate to rise. So what explains the current dynamic? And how can we sustain a hot economy without the pain of inflation? Perhaps the work of the lesser-known Polish economist Michał Kalecki holds the answers. Like Keynes, he also viewed the free market as being inherently unstable, but he came to different conclusions about why. He also explored the political economy of full employment and why this condition frustrates business leaders. On this episode, we speak with Jan Toporowski, professor of Economics and Finance at SOAS University of London, about Kalecki's work and how it can help us understand today's economy.

In the wake of the Great Financial Crisis, the work of John Maynard Keynes experienced a revival, as people sought answers to the problem of sluggish growth. In this cycle, sluggish growth isn't the problem. If anything, you hear business leaders and central bankers talking about the labor market being "too hot," and the need for the unemployment rate to rise. So what explains the current dynamic? And how can we sustain a hot economy without the pain of inflation? Perhaps the work of the lesser-known Polish economist Michał Kalecki holds the answers. Like Keynes, he also viewed the free market as being inherently unstable, but he came to different conclusions about why. He also explored the political economy of full employment and why this condition frustrates business leaders. On this episode, we speak with Jan Toporowski, professor of Economics and Finance at SOAS University of London, about Kalecki's work and how it can help us understand today's economy.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday. 

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday.

Jan Toporowski Explains Why Capitalists Dislike Full Employment

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/eb1cb452-4eb7-4897-8a97-afa40134513e/transcript

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