Post Keynesian Price Theory

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This book sets out the foundations of Post Keynesian price theory, by 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 subsequent foundations. The work of Gardiner Means, Philip Andrews, and Michal Kalecki is discussed, as well as that of the developers of the doctrines such as Edwin Nourse, Paolo Sylos Labini, Harry Edwards, Josef Steindl, and Alfred Eichner.
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Editorial Reviews

From the Publisher
"Frederic Lee has done Post Keynesian economic a great service...Keynesian Price Theory is compulsory reading for all those interested in a non-neoclassical approach to pricing." Review of Radical Political Economics

"He has set out to challenge the post Keynesian conventional wisdom that its price theoretic foundations are to be found in either the Kaleckisn or Sraffian approach to prices or in some hybrid of the two." Review of Radical Political Economics

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Product Details

  • ISBN-13: 9780521030212
  • Publisher: Cambridge University Press
  • Publication date: 8/28/2006
  • Series: Modern Cambridge Economics Series
  • Edition description: Reissue
  • Pages: 292
  • Product dimensions: 5.98 (w) x 8.98 (h) x 0.67 (d)

Table of Contents

List of figures and tables
Introduction 1
Pt. I The doctrine of administered prices
1 The origin of the doctrine of administered prices: from the modern corporation to industrial prices 19
2 Gardiner Means' doctrine of administered prices 44
3 Developments in the doctrine of administered prices 67
Pt. II The doctrine of normal cost prices
4 The origin of the doctrine of normal cost prices: the Oxford Economists' Research Group and full cost pricing 83
5 Philip Andrews' theory of competitive oligopoly 100
6 Developments in the doctrine of normal cost prices 117
Pt. III The doctrine of mark up prices
7 The origin of the doctrine of mark up prices: Michal Kalecki's microanalysis 143
8 Kalecki's microanalysis and the war years 153
9 Kalecki and the Cambridge contributions 165
10 Josef Steindl and the stagnation thesis 186
Pt. IV The grounded pricing foundation of Post Keynesian price theory
11 Pricing and prices 201
12 The pricing model, the grounded pricing foundation, and Post Keynesian price theory 219
App. A Studies on cost accounting and costing practices 232
App. B Studies on pricing 235
Bibliography 241
Index 275
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