Post Keynesian Price Theory

Cambridge University Press | 1999-02-13 | ISBN: 0521328705 | 288 pages | PDF | 1 MB

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 is the only book that is solely concerned with Post Keynesian price theory and its foundations, and represents a major contributon to the literature of post-Keynesian economics.

This book is the net result of nearly sixty years of confusion about the microeconomic foundations of the General Theory created by Richard Kahn(RK) and Joan(JR) and Austin Robinson(AR).Essentially,the author of this book blends the administered pricing approach of Gardinar Means,the normal cost pricing approach of Philip Andrews,and the mark up pricing approach of Michal Kalecki and later assorted Cambridge Keynesians into a consistent non neoclassical microeconomic theory that is supposed to allow post keynesians to present a unified front in their microeconomic foundations.

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