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Degree of monopoly and pricing in Kalecki: a critical assessment

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  • Cláudio Gontijo

Abstract

This article examines the historical roots and logical consistency of Kalecki’s theory of degree of monopoly and price determination in an input-output framework. It shows that the Kaleckian theory of prices is open in S0 far as it does not provide any systematic explanation about the determination of individuals mark-ups. Besides, it shows that the mark-up for the economy as a whole does not depend on the conditions of competition. A consistent way to close the system would be to determine the average mark-up through the Marxian rate of pro-fits and the oligopoly prices as deviations from prices of production. JEL Classification: E11; B24; D42.

Suggested Citation

  • Cláudio Gontijo, 1991. "Degree of monopoly and pricing in Kalecki: a critical assessment," Brazilian Journal of Political Economy, Center of Political Economy, vol. 11(2), pages 161-173.
    • Handle: RePEc:ekm:repojs:v:11:y:1991:i:2:p:161-173:id:1456
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1456/1442
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    More about this item

    Keywords

    Marxist analysis; monopoly; price determination; mark-up;
    All these keywords.

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly

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