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Problems with Post Keynesian Price Theory: A Marxist Perspective
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This article looks critically at the Post Keynesian theory of price. It is argued that underlying this theory is a view of the economy from the perspective of the entrepreneur, and
it is this perspective that causes Post Keynesians to have a flawed understanding of prices. Specifically, it causes Post Keynesians to have an essentially circuitous and, in the
final instance, vacuous explanation of prices. In a nutshell, Post Keynesians end up explaining prices by prices and, in the final instance, the value of money.
Title: Problems with Post Keynesian Price Theory: A Marxist Perspective
Description:
This article looks critically at the Post Keynesian theory of price.
It is argued that underlying this theory is a view of the economy from the perspective of the entrepreneur, and
it is this perspective that causes Post Keynesians to have a flawed understanding of prices.
Specifically, it causes Post Keynesians to have an essentially circuitous and, in the
final instance, vacuous explanation of prices.
In a nutshell, Post Keynesians end up explaining prices by prices and, in the final instance, the value of money.
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