- A Personal View of the Origin of Post-Keynesian Ideas in the History of Economics
- Sraffa, Keynes, and Post-Keynesianism
- Sraffa, Keynes, and Post-Keynesians Suggestions for a Synthesis in the Making
- On the Notion of Equilibrium or the Center of Gravitation in Economic Theory
- Keynesian Foundations of Post-Keynesian Economics
- Post-Keynesian Theories of Money and Credit Conflicts and (some) Resolutions
- The Scientific Illusion of New Keynesian Monetary Theory
- Single-Period Analysis and Continuation Analysis of Endogenous Money A Revisitation of the Debate between Horizontalists and Structuralists
- Post-Keynesian Monetary Economics, Godley-Like
- Hyman Minsky and the Financial Instability Hypothesis
- Endogenous Growth A Kaldorian Approach
- Structural Economic Dynamics and the Cambridge Tradition
- The Cambridge Post-Keynesian School of Income and Wealth Distribution
- Reinventing Macroeconomics What are the Questions?
- Long-Run Growth in Open Economies Export-led Cumulative Causation or a Balance-of-payments Constraint?
- Postkeynesian Precepts for Nonlinear, Endogenous, Nonstochastic, Business Cycle Theories
- Post-Keynesian Approaches to Industrial Pricing A Survey and Critique
- Post-Keynesian Price Theory From Pricing to Market Governance to the Economy as a Whole
- Kaleckian Economics
- Wages Policy
- Discrimination in the Labor Market
- Post-Keynesian Perspectives on Economic Development and Growth
- Keynes and Economic Development
- Post-Keynesian Economics and the Role of Aggregate Demand in Less-Developed Countries
Abstract and Keywords
In this chapter, post-Keynesian price theory will be delineated. Because prices do not, from a post-Keynesian perspective, coordinate economic activity nor make economic activity happen, their theoretical role in a going economy has to be located elsewhere. In particular, prices are the primary mechanism through which business enterprises obtain their income to continue as a going enterprise. Therefore post-Keynesian price theory is concerned with explaining how the prices set by enterprises are going concern prices; how going concern prices are established at the level of the market where enterprises have to engage in competition; and what is the role of the price system in the economy.
Frederic S. Lee is a Professor of Economics in the Department of Economics at the University of Missouri-Kansas City.
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