Kalecki's notes on Robinson's Essay on Marxian Economics.

This article examines Michał Kalecki's detailed response to Joan Robinson's *Essay on Marxian Economics*, highlighting Kalecki's defense of Marx's theory of profits against Robinson's critiques and clarifying misunderstandings in her interpretation. Kalecki argued that Marx's theory, while based on restrictive assumptions such as full capacity utilization and stable prices, constitutes a coherent framework for explaining profits and economic cycles, contrasting with Robinson's view that Marx's explanation was vague. He also contested Robinson's claim of a generally constant wage share, presenting empirical evidence of its variability influenced by market imperfections and industrial concentration. The article situates Kalecki's notes within the broader intellectual exchange between Keynesian and Marxian economics, emphasizing Kalecki's role in bridging these traditions and influencing Robinson's reconsideration of Marx.