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Post Keynesian Price Theory

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  • Lee,Frederic S.

Abstract

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. This involves discussing the work of Gardiner Means, Philip Andrews, and Michal Kalecki as well as the developers of the doctrines, such as Edwin Nourse, Paolo Sylos Labini, Harry Edwards, Josef Steindl and Alfred Eisner. Drawing upon the arguments and formal modelling offered by the doctrines, in conjunction with empirical evidence from one hundred studies on pricing and production, Dr Lee develops an empirically grounded pricing model and production schema. He argues that the model and the schema together constitute the foundations for post-Keynesian price theory.

Suggested Citation

  • Lee,Frederic S., 1999. "Post Keynesian Price Theory," Cambridge Books, Cambridge University Press, number 9780521328708.
  • Handle: RePEc:cup:cbooks:9780521328708
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    Cited by:

    1. Tae-Hee Jo, 2016. "Frederic S. Lee and His Fight for the Future of Heterodox Economics," PSL Quarterly Review, Economia civile, vol. 69(278), pages 267-278.
    2. Amitava Krishna Dutt & Sébastien Charles & Dany Lang, 2015. "Employment Flexibility, Dual Labour Markets, Growth, and Distribution," Metroeconomica, Wiley Blackwell, vol. 66(4), pages 771-807, November.
    3. Jael, Paul, 2015. "Prix, taux de profit cible et prévention de l’entrée
      [Price, Target Rate of Profit and Entry Preventing]
      ," MPRA Paper 69015, University Library of Munich, Germany.
    4. Jamee K. Moudud, 2010. "Strategic Competition, Dynamics, and the Role of the State," Books, Edward Elgar Publishing, number 4241.
    5. Frederic Lee & Tae-Hee Jo, 2011. "Social Surplus Approach and Heterodox Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 45(4), pages 857-876.
    6. Zdravka Todorova & Tae-Hee Jo, 2015. "Frederic S. Lee's contributions to heterodox economics," Working Papers PKWP1504, Post Keynesian Economics Study Group (PKSG).
    7. Geoff Willis, 2011. "Why Money Trickles Up - Wealth & Income Distributions," Papers 1105.2122, arXiv.org, revised May 2011.
    8. Jo, Tae-Hee, 2016. "The Social Provisioning Process and Heterodox Economics," MPRA Paper 72384, University Library of Munich, Germany.
    9. Keen, Steve, 2013. "A monetary Minsky model of the Great Moderation and the Great Recession," Journal of Economic Behavior & Organization, Elsevier, vol. 86(C), pages 221-235.
    10. Jael, Paul, 2014. "Full Cost, Profit and Competition," MPRA Paper 59630, University Library of Munich, Germany.
    11. Jo, Tae-Hee, 2013. "Uncertainty, Instability, and the Control of Markets," MPRA Paper 47936, University Library of Munich, Germany.
    12. Jael, Paul, 2014. "Full cost, profit et concurrence
      [Full cost, Profit and Competition]
      ," MPRA Paper 64406, University Library of Munich, Germany.
    13. Willis, Geoff, 2011. "The Bowley Ratio," MPRA Paper 30852, University Library of Munich, Germany.
    14. Jo, Tae-Hee, 2012. "Financing investment under fundamental uncertainty and instability: A heterodox microeconomic view," MPRA Paper 39450, University Library of Munich, Germany.
    15. repec:gam:jecomi:v:6:y:2018:i:1:p:3-:d:126197 is not listed on IDEAS
    16. Jael, Paul, 2015. "Price, target rate of profit and entry preventing," MPRA Paper 65970, University Library of Munich, Germany.
    17. Tuna Baskoy, 2011. "Business Competition and the 2007–08 Financial Crisis: A Post Keynesian Approach," Chapters,in: Heterodox Analysis of Financial Crisis and Reform, chapter 10 Edward Elgar Publishing.
    18. Dögüs, Ilhan, 2017. "Rising wage dispersion between white-collar and blue-collar workers and market concentration: The case of the USA, 1966-2011," Discussion Papers 62, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).
    19. Eric Kemp-Benedict, 2017. "Dematerialization, decoupling, and productivity Change," Working Papers PKWP1709, Post Keynesian Economics Study Group (PKSG).
    20. Jo, Tae-Hee, 2011. "Heterodox Critiques of Corporate Social Responsibility," MPRA Paper 35367, University Library of Munich, Germany.
    21. Sebastian Berger, 2013. "The Making of the Institutional Theory of Social Costs: Discovering the K. W. Kapp and J. M. Clark Correspondence," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1106-1130, November.

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