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Post-Keynesian Theories of the Firm: Kalecki and Radical Uncertainty: Routledge Frontiers of Political Economy

Autor Nobantu Mbeki
en Limba Engleză Paperback – 28 noi 2024
Within Post-Keynesian economics there is a spectrum of approaches to theories of the firm but what they have in common, to their great benefit, is a proper integration of the concept of radical uncertainty: data that cannot be known. This book revisits Kalecki’s theory of the firm is located to show that it constitutes fertile theoretical ground on which to systematically understand the resultant indeterminacy when firms operate under conditions of radical uncertainty. The author proposes a way of generalising radical uncertainty by integrating some of the separate approaches within Post-Keynesian economics centred around Kalecki’s work. Through this, it is shown that radical uncertainty does more than just change the ultimate motivation of firms (dropping short-run profit maximisation; more complex motivation; interconnectivity with the environment), it is central to the emergence, existence and motivation of firms, and critically also firm strategy. It is argued that firms do not simply respond to uncertainty: it is the systematic cause of their intentional behaviour. Through developing these arguments, the book also contributes to the methodology of Kalecki and Shackle, as well as Kaleckian price theory. This book will be important reading for anyone interested in theories of the firm, Post-Keynesian economics and heterodox approaches to economics more broadly.
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Specificații

ISBN-13: 9781032463995
ISBN-10: 1032463996
Pagini: 426
Ilustrații: 14
Dimensiuni: 156 x 234 mm
Greutate: 0.79 kg
Ediția:1
Editura: Taylor & Francis
Colecția Routledge
Seria Routledge Frontiers of Political Economy

Locul publicării:Oxford, United Kingdom

Public țintă

Academic, Postgraduate, and Undergraduate

Cuprins

Part I: Uncertainty1. Beyond the risk-uncertainty dichotomy 2. A reconsideration of Davidson’s taxonomy of uncertainty3. Reclassifying theories of risk and uncertaintyPart II: Pricing Theory 4. Post Keynesian pricing theory5. Interdependence, dynamics and post Keynesian pricing6. Radical uncertainty and the limits of mark-up pricing7. Existing elements towards a theory of the firmPart III: Extending the Theory of the Firm8. Mark-up pricing and radical uncertainty9. From the outside in or inside out? Between firm and industry 10. The nature of competition 11. Pricing and accumulation Part IV: Further Themes in Microeconomic Theory 12. A proposed methodology for working with indeterminacy13. Resituating the Kaleckian firm within the evolving post Keynesian theory of the firm14. Old and new tensions and new directions

Notă biografică

Nobantu Mbeki, Lecturer in Economics, School of Economics and Finance, University of the Witwatersrand, South Africa

Descriere

This book revisits Kalecki’s theory of the firm is located to show that it constitutes fertile theoretical ground on which to systematically understand the resultant indeterminacy when firms operate under conditions of radical uncertainty.