Prices, Profits and Financial Structures: A Post-Keynesian Approach to Competition (New Directions in Modern Economics series) - Hardcover

Çapoglu, Gökhan

Hardcover

ISBN 10: 1852784105 ISBN 13: 9781852784102

Publisher: Edward Elgar Publishing, 1991

Synopsis

This book makes a well written and clearly argued contribution to important questions about the nature of competition in capitalist societies. It develops a conception of competition as a survival process which is dynamic as opposed to the static nature of the neoclassical view of competition as a market structure. It provides a framework for the joint analysis of firms, pricing, financing and investment decisions. The institutional structure of the economy becomes an integral part in the analysis of the competitive process. It is argued that firms target their profits on the basis of their costs and investment decisions. Profit targeting behaviour and the differences in international financing ratios are tested for the USA. The institutional assumptions are explored from the comparative and international perspective. The book will be essential reading for both industrial economists as well as those with an interest in post Keynesian economics.

About this title

About the Author

Goekhan Capoglu, Chairman, Anatolian Strategic Research Foundation,Turkey

Review

`This is an innovative and important, albeit highly controversial, book which attempts in a coherent, analytical framework to relate the pricing, profit and financing decisions of a firm to its investment decisions; by viewing competition as a dynamic process the author is able to introduce technology as an endogenous component, and integrate it into the investment decision. It thus provides an effective alternative to the static neoclassical paradigms, both of competition as well as the financing of firms. It is refreshing, further, to find that its complex analytics are presented with a minimum of jargon.' -- J.K.S. Ghandi, University of Pennsylvania, US `This is an interesting book, faithful to its post Keynesian mould in that it provides a very nice mesh of theory and evidence. Recent developments both theoretical and institutional are accounted for in this manner. Important gaps in post Keynesian analysis, such as the determination of investment, but most importantly the concept of competition, are taken on board. Please read it.' -- Philip Arestis, The Levy Economics Institute of Bard College, US

Edition details

• Publisher: Edward Elgar Publishing
• Publication date: 1991
• ISBN 10: 1852784105
• ISBN 13: 9781852784102
• Binding: Hardcover
• Language: English
• Number of pages: 208