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Post Keynesian price theory

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  • Nina Shapiro
  • Malcolm Sawyer

Abstract

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 distinctiveness and significance of the theory are located elsewhere, in the strategic determination of prices and the conception of the firm that underlies it. The costs of firms are examined along with their prices, with special attention paid to the overhead allocations of the firm and the validity of the full cost conception of its prices.

Suggested Citation

  • Nina Shapiro & Malcolm Sawyer, 2003. "Post Keynesian price theory," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 25(3), pages 355-365.
    • Handle: RePEc:mes:postke:v:25:y:2003:i:3:p:355-365
    DOI: 10.1080/01603477.2003.11051365
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    Cited by:

    1. Radhika Balakrishnan & William Milberg, 2019. "Firm innovation and capitalist dialectics: The economics of Nina Shapiro," The Economic and Labour Relations Review, , vol. 30(4), pages 467-477, December.
    2. Domenica Tropeano, 2012. "Income Distribution, Growth and Financialization: The Italian Case," Chapters, in: Claude Gnos & Louis-Philippe Rochon & Domenica Tropeano (ed.), Employment, Growth and Development, chapter 4, Edward Elgar Publishing.
    3. Carmem Aparecida Feijo & Luiz Fernando Cerqueira, 2013. "Econometric Evidence on the Determinants of the Mark Up of Industrial Brazilian Firms in the 1990s," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 14(1a), pages .91-119.
    4. Amanda Page-Hoongrajok & Sai Madhurika Mamunuru, 2023. "Approaches to Intermediate Microeconomics," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 49(3), pages 368-390, June.

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