Microeconomic Theory: A Heterodox Approach

The purpose of this book is to delineate Post Keynesian microeconomic theory. More specifically, the objective is to build the theoretical core of Post Keynesian microeconomics that can then be used by other Post Keynesians in their work. Hence the book is about theory creation as opposed to delineating what is currently accepted, with an emphasis on business enterprise, production, costs, pricing and prices, markets, market governance, market demand, and distribution of income. The book begins with a historical understanding of the origins of Post Keynesian economics and an awareness of the range of different and similar ideas that contributed to the development of Post Keynesian microeconomics. This book is unusal however to the extent that it refers more to theory than specific theorists, grounding each component of the core theory in empirical evidence. The conceptual organization of the book is based on a critical realist perspective of identifying structures and causal mechanisms,examining Post Keynesian microeconomics as it currently stands.