Microeconomic Theory: A Heterodox Approach

Description

Cover......Page 1 Title......Page 4 Copyright......Page 5 Contents......Page 6 List of figures......Page 10 List of tables......Page 11 Preface......Page 12 Notations and abbreviations......Page 20 Economics is the science of the social provisioning process......Page 28 Community of heterodox economists......Page 30 Heterodox economic theory......Page 31 Theoretical core......Page 32 Heterodox microeconomics......Page 34 Methodology of heterodox economics......Page 36 Philosophical foundation......Page 37 Research strategy: method of grounded theory......Page 41 Issues of research methods......Page 49 Historical character of heterodox economic theories......Page 56 The making of heterodox microeconomic theory......Page 58 The social provisioning process......Page 64 Representing and modeling the productive structure of the economy and the surplus......Page 67 Circular production......Page 68 Circular production, non-produced inputs, and scarcity......Page 70 Fixed investment goods, resource reserves, and the surplus......Page 71 Social provisioning as a going plant......Page 76 Representing the relationship between the social surplus and income......Page 77 Classes, state, and state money......Page 78 Government expenditures, state money, and the financial sector......Page 80 Profits, incomes, and the social surplus......Page 83 Social provisioning as a going economy......Page 85 Agency, acting persons, organizations, and institutions......Page 87 The acting person......Page 88 The business enterprise......Page 89 The state......Page 91 The household......Page 92 Market governance organizations......Page 93 Modeling the economy as a whole......Page 95 Organizational structure of the business enterprise......Page 105 Motivation......Page 106 Decision-making structure......Page 107 Management accounting procedures......Page 108 Structure of production and costs......Page 111 Production, technology, plants, and direct costs......Page 112 Shop technique of production and shop expenses......Page 121 Enterprise technique of production and enterprise expenses......Page 126 Structure of production and costs of a product line......Page 128 The heterodox theory of production and costs......Page 130 Costing and pricing......Page 135 Costing-oriented pricing......Page 137 Mark-up-oriented pricing......Page 138 Going concern prices......Page 139 Pricing and the profit mark-up......Page 142 Long-range planning......Page 143 Investment decisions......Page 146 Market as an institution for social provisioning......Page 149 Market: defined and delineated......Page 150 Market and industry......Page 153 Acting household and consumption demand......Page 156 Differential prices and fluidity of market shares......Page 162 Relationship between the market price and market sales......Page 164 Going enterprise, sequential production, and the market price......Page 165 Market power and price instability......Page 169 Price instability and the going enterprise......Page 177 Heterodox approach to market competition and market governance......Page 179 Competition and market concentration......Page 181 Basis for managed market competition......Page 185 Market governance: controlling instability through regulating markets......Page 187 Legal form......Page 192 Constitution and purpose......Page 194 Organization and management......Page 195 General activities......Page 197 Private market governance and the market price: price leadership......Page 200 The dominant enterprise defined and identified......Page 201 The dominant enterprise and the market price......Page 204 Appearance and stability of the dominant enterprise......Page 205 The evolution of the dominant enterprise: costs......Page 206 The evolution of the dominant enterprise: competitive strategy......Page 207 Public market governance and the market price: government regulations......Page 208 Market competition and the control of the social provisioning process......Page 210 Social provisioning and social surplus......Page 214 Pricing model and theory of prices......Page 216 Output-employment model and the social surplus......Page 219 The going economy and its theoretical core......Page 223 Prices and output-employment decisions......Page 224 Social surplus, the state, and wages and profits......Page 225 Social surplus and social provisioning......Page 227 Theory of value and heterodox microeconomics......Page 228 Introduction......Page 233 The economy as a whole, as a conceptual and theoretical foundation......Page 234 Effective demand, income distribution, and the social provisioning process......Page 240 Heterodox microeconomic topics and future research......Page 243 Appendix 1 Heterodox microeconomics course syllabus......Page 250 Appendix 2 Narrative-qualitative-analytical problem sets......Page 258 Bibliography......Page 274 Index......Page 294