Includes bibliographical references and index.
|Series||New directions in modern economics series|
|LC Classifications||HB221 .D64 1999|
|The Physical Object|
|Pagination||x, 224 p. ;|
|Number of Pages||224|
|LC Control Number||98006257|
Book description Frederic Lee sets out the foundations of a post-Keynesian price theory through developing an empirically grounded production schema. The administered, normal cost and mark-up price doctrines are explained in parts I-III of the book, as many of their theoretical arguments are important for developing the foundations. PRICING THEORY IN POST KEYNESIAN ECONOMICS Download Pricing Theory In Post Keynesian Economics ebook PDF or Read Online books in PDF, EPUB, and Mobi Format. Click Download or Read Online button to Pricing Theory In Post Keynesian Economics book pdf for free now. This book sets out the foundations of Post Keynesian price theory. Frederic Lee examines the administered, normal cost and mark up price doctrines associated with Post Keynesian economics; he then draws upon those doctrines and previous empirical studies to develop the pricing and production foundations of the theory. This paper examines and develops the firm-centered price theory of Post Keynesian economics. It takes issue with the traditional interpretation of that theory, arguing that although its prices are cost-based, they are not cost-determined. The.
Post-Keynesian economics is a rich and controversial field of economic science. It is relentless in its criticism of mainstream theory, and it has succeeded in making very important positive contributions to economics in the form of a persuasive and seemingly complete alternative. Anyone interested in post-Keynesian economics should begin their study with this book.4/5(3). Post-Keynesian theories of value, distribution, and price-setting by, usually, an oligopolistic price-leader firm are now examined. Both sets of theories arise from dissatisfaction with supply and demand theories. The theories criticized and proposed as alternatives are macroeconomic. ‘Pricing and the growth of the firm’, Journal of Post Keynesian Economics, 4 (1), pp. Advanced. Harcourt, G.C. (). ‘Post-Keynesian theories of the determination of the mark-up’, chapter 2 in Harcourt, G.C., The Structure of Post-Keynesian Economics: The Core Contributions of the Pioneers. Cambridge: Cambridge University Press. viii The Economics of Keynes: A New Guide to The General Theory 3. THE PROPENSITY TO CONSUME A Patinkin and the proportional multiplier A Factor income and effective demand A The multiplier as a condition of market-period equilibrium File Size: 1MB.
Post-Keynesian Economic Theory explores and develops several areas of post- Keynesian economics most in need of additional fundamental research, including: a monetary theory of production; post-Keynesian price theory; international economics; labor economics; financing aggregate demands; and the liquidity preference theory of interest. The book presents a constructive post-Keynesian critique. ADVERTISEMENTS: The history of modern macroeconomics starts in with the publication of Keynes’ The General Theory of Employment, Interest and Money as is clear from the opening quotation of Keynes. The timing of the release of the book was one of the reasons for its success. Before , economists failed to explain the causes [ ]. Post Keynesian Price Theory This book sets out the foundation of Post Keynesian price theory by developing an empirically grounded pricing model and production schema. The admin-istered, normal cost, and mark up price doctrines are explained in parts I–III of the book, as many of their theoretical arguments are important for developing. In this chapter, post-Keynesian price theory will be delineated. Because prices do not, from a post-Keynesian perspective, coordinate economic activity nor make economic activity happen, their theoretical role in a going economy has to be located elsewhere. In particular, prices are the primary mechanism through which business enterprises obtain their income to continue as a going by: