During the almost seven decades of his career, he held a series of academic and government advisory positions, founded several organizations, published books and essays on economic policy.

In 1938, he actively opposed the antisemitic campaign carried out at institutions of higher learning by Polish nationalistic factions and supported by the Camp of National Unity party, which forced him to resign from his position at the School of Economics.

An outspoken critic of Stalinism, Lipinski warned that "over-organization" of economic policy and rigid adherence to the party line, even in the face of rapidly changing conditions that required immediate action beyond the scope of the routine, would stifle growth.

Because of his criticism, when the hard line Stalinist faction of Bolesław Bierut gained power in 1949, Lipiński was forced to resign as chair of economics at the university and banned from delivering some of his lectures.

Gierek, who came to power after the overthrow of Władysław Gomułka, promised to improve the quality of life of Polish workers by raising wages and stabilizing prices.

Also known as the KOR, this group founded by Edward Lipiński, Stanisław Barańczak, Jan Józef Lipski and others gave assistance to worker protest participants jailed after the widespread strikes.

Lipiński is the author of nearly 200 books and essays on subjects ranging from the theory of economic fluctuations, a field upon which he wielded a great influence, to industrial performance, prices and planning, market structures, and in his early career, social issues.

Never relying solely on mathematical models and theory to predict and explain economical phenomena, Lipiński is known for the emphasis on human creativity and spontaneity.

In his seminal Karl Marx and Problems of Our Time, Lipiński posits that economics are a "complex social phenomena" and he draws on sociology and psychology to explain trends, as much as he relies on mathematics.