Artikel
On Sraffa, post-Keynesian theories of pricing and capitalist competition: Some observations
The paper explores the implications of the 1920s 'cost controversy' for heterodox economic theory (here limited to post-Keynesian and Sraffian analysis). It argues that neither neoclassical nor heterodox theories have found viable solutions to the basic dilemma posed by the 'cost controversy', namely how to reconcile a general theory of price with that of growth and accumulation. The a priori commitment of neoclassical theory to a symmetric theory of exchange and production means that the impasses met by Walrasian general equilibrium theory and by the New Endogenous Growth Theory cannot be resolved, while also preserving explanatory power. For the case of post-Keynesian and Sraffian theory, it is suggested that, while a claim to "a general theory of everything" is also unsustainable, a reconsideration of the methodological roots of Sraffa's own analysis and of core aspects of classical theories of competition, might open an avenue to providing an empirically relevant heterodox theory of contemporary corporate capitalism.
- Language
-
Englisch
- Bibliographic citation
-
Journal: Intervention. European Journal of Economics and Economic Policies ; ISSN: 2195-3376 ; Volume: 08 ; Year: 2011 ; Issue: 1 ; Pages: 183-200
- Classification
-
Wirtschaft
History of Economic Thought since 1925: General
Current Heterodox Approaches: General
- Subject
-
cost controversy
Sraffa
post-Keynesian theory of pricing
classical theory of competition
- Event
-
Geistige Schöpfung
- (who)
-
Blankenburg, Stephanie
- Event
-
Veröffentlichung
- (who)
-
Metropolis-Verlag
- (where)
-
Marburg
- (when)
-
2011
- DOI
-
doi:10.4337/ejeep.2011.01.13
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Blankenburg, Stephanie
- Metropolis-Verlag
Time of origin
- 2011
Other Objects (12)
Do Heterodox Theories Have Anything in Common? A Post-Keynesian Point of View
Post-Keynesian macrodynamics and path-dependent growth
Uncertainty, bounded rationality and post-Keynesian Macroeconomics
Post-Keynesian theory, direct action and political involvement
A view on post-Keynesian interest rate policy
The Post-Keynesian Economics Study Group - After 20 Years
Financialisation Issues in a Post-Keynesian Stock-flow Consistent Model
Post-Keynesian economics How to move forward
Confidence and financial crisis in a post-Keynesian stock flow consistent model
An empirical evaluation of three post-Keynesian models
Equilibrium interest rate and financial transactions in post-Keynesian models. Pointing out some overlooked features
Macroeconomics without growth : sustainable economies in neoclassical, Keynesian and Marxian theories
Do Heterodox Theories Have Anything in Common? A Post-Keynesian Point of View
Post-Keynesian macrodynamics and path-dependent growth
Uncertainty, bounded rationality and post-Keynesian Macroeconomics
Post-Keynesian theory, direct action and political involvement
A view on post-Keynesian interest rate policy
The Post-Keynesian Economics Study Group - After 20 Years
Financialisation Issues in a Post-Keynesian Stock-flow Consistent Model
Post-Keynesian economics How to move forward
Confidence and financial crisis in a post-Keynesian stock flow consistent model
An empirical evaluation of three post-Keynesian models
Equilibrium interest rate and financial transactions in post-Keynesian models. Pointing out some overlooked features
Macroeconomics without growth : sustainable economies in neoclassical, Keynesian and Marxian theories
Do Heterodox Theories Have Anything in Common? A Post-Keynesian Point of View
Post-Keynesian macrodynamics and path-dependent growth
Uncertainty, bounded rationality and post-Keynesian Macroeconomics
Post-Keynesian theory, direct action and political involvement
A view on post-Keynesian interest rate policy
The Post-Keynesian Economics Study Group - After 20 Years
Financialisation Issues in a Post-Keynesian Stock-flow Consistent Model
Post-Keynesian economics How to move forward
Confidence and financial crisis in a post-Keynesian stock flow consistent model
An empirical evaluation of three post-Keynesian models
Equilibrium interest rate and financial transactions in post-Keynesian models. Pointing out some overlooked features