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Heterodox production and cost theory of the business enterprise

Author

Listed:
  • Lee, Frederic
  • Jo, Tae-Hee

Abstract

Heterodox economists long complained about having no systematic alternative to neoclassical production and cost theory. This paper deals with this complaint. That is, it presents a theory of production and costs of the business enterprise that is a complete alternative to the neoclassical theory of production and costs of the firm.

Suggested Citation

  • Lee, Frederic & Jo, Tae-Hee, 2010. "Heterodox production and cost theory of the business enterprise," MPRA Paper 27635, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:27635
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    File URL: https://mpra.ub.uni-muenchen.de/27635/1/MPRA_paper_27635.pdf
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    References listed on IDEAS

    as
    1. Fred Lee, 1986. "Post Keynesian View of Average Direct Costs a Critical Evaluation of the Theory and the Empirical Evidence," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 8(3), pages 400-424, March.
    2. Heinz Kurz & Neri Salvadori, 2005. "Representing the production and circulation of commodities in material terms: On Sraffa's objectivism," Review of Political Economy, Taylor & Francis Journals, vol. 17(3), pages 413-441.
    3. Jones, Haydn, 1985. "Accounting, Costing, and Cost Estimation in Welsh Industry," University of Chicago Press Economics Books, University of Chicago Press, number 9780708308820, Febrero.
    4. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Tae-Hee Jo & John F. Henry, 2015. "The Business Enterprise in the Age of Money Manager Capitalism," Journal of Economic Issues, Taylor & Francis Journals, vol. 49(1), pages 23-46, January.
    2. Jo, Tae-Hee, 2016. "A Heterodox Theory of the Business Enterprise," MPRA Paper 72426, University Library of Munich, Germany.
    3. Tae-Hee Jo, 2016. "What If There Are No Conventional Price Mechanisms?," Journal of Economic Issues, Taylor & Francis Journals, vol. 50(2), pages 327-344, April.
    4. Tae-Hee Jo, 2015. "Financing Investment under Fundamental Uncertainty and Instability: A Heterodox Microeconomic View," Bulletin of Political Economy, Bulletin of Political Economy, vol. 9(1), pages 33-54, June.
    5. Lee, Frederic, 2011. "Heterodox microeconomics and the foundation of heterodox macroeconomics," MPRA Paper 30491, University Library of Munich, Germany.

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    More about this item

    Keywords

    heterodox theory; accounting rules; structure of production and costs; segmented plants; direct costs; shop expenses; enterprise expenses;
    All these keywords.

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches

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