Is it time to finally take Dr Kalecki’s Rational Planning Medicine

Given the effective collapse of efforts to introduce the market economy in many former communist countries it is perhaps time to look beyond the recommendations of the pro‐market economics mainstream. This article seeks to clearly explain Dr Kalecki’s theory of growth under socialism and to fully explain his notion of perspective planning. It then considers why such rational planning failed to be implemented under Communism. Finally, after identifying the necessary political/social conditions for successful perspective planning, it contemplates whether Russia, or similar collapsing former communist countries, could actually successfully implement rational perspective planning today.