• Corpus ID: 153821743

A pluralist approach to microeconomics

  title={A pluralist approach to microeconomics},
  author={Steve Keen},
A great strength of traditional economics is the absence of a welldeveloped, coherent alternative. The pressure to teach something often results in orthodox microeconomics ruling the roost. However, political economists should not be afraid to teach approaches which, in apparent contrast to the logically complete traditional economics of the firm, are inchoate and do not answer every question. A new approach is never born complete but evolves, and the process of teaching an alternative from an… 

State and future of the ‘citadel’ and of the heterodoxies in economics: challenges and dangers, convergences and cooperation

This keynote reflects on the phased-out original neoclassical research program and the dominance of originally heterodox issues and questions, all beyond the ‘optimality and equilibrium of the

Social Economics and Evolutionary Institutionalism Today

This paper discusses theoretical and methodological elements that constitute social economics. It also considers those elements for evolutionary (Veblenian) institutional economics. It investigates

Why economics textbooks must, and how they can, be changed into a real-world and pluralist economics

We argue that economics must, and can, be taught in fundamentally different ways than the simplistic and ideology-laden “economics of x”. We illustrate this with a fundamentally new textbook,

Death of the pedagogue: pluralism and non-didacticism

Contest and controversy; orthodoxy and heterodoxy; critique and reject: how can economics curricula be adjusted to illustrate the multiplicity of, frequently antagonistic, explanations for observed



Post Keynesian Pricing Theory “Reconfirmed”? A Critical Review of Asking about Prices

Following a series of preliminary discussions (Blinder et al., 1991, 1994; Blanchard, 1994), one of the most eminent new Keynesian economists has finally published a long and detailed questionnaire

The Intrinsic Limits of Modern Economic-Theory - the Emperor Has No Clothes

Assumptions of the uniqueness and stability of general equilibrium in a Walrasian framework have no theoretical justification. This paper argues that the key reason for this is that the Walrasian

Questions for Kaleckians

Two central facts about modern industrial economies are that productive processes (a) use produced inputs and (b) produce more than one kind of output. Yet the Kaleckian mark–up theory of pricing and

Kalecki's Pricing Theory Revisited

In a recent JPKE article on the development of Kalecki 's pricing theory, Kriesler (1988) argued that "there was substantial modification and change in the various formulations"; he therefore

Perfect Competition, Historically Contemplated

  • G. Stigler
  • Economics
    Journal of Political Economy
  • 1957
No concept in economics — or elsewhere — is ever defined fully, in the sense that its meaning under every conceivable circumstance is clear. Even a word with a wholly arbitrary meaning in economics,

Answers (and Questions) for Sraffians (and Kaleckians)

Steedman's 'Questions for Kaleckians' is rightly critical of the lack of attention paid by Kaleckian economists to the input-output nature of production. However, his conclusions about Kaleckian

Intermediate Microeconomics: A Modern Approach

The worldwide best-selling intermediate microeconomics textbook is distinguished by its remarkably up-to-date and rigorous yet accessible analytical approach. The seventh edition has been carefully

An agent based model of the evolution of market structure and competition

We consider in this paper the evolution of a market in which a single product is produced, which can be differentiated both on price and quality. The specific focus is upon the consequences of new

Irrationality in the Neoclassical Definition of Rationality

In this study we are not arguing that competition as it actually occurs in practice is not socially beneficial. Our criticism is directed instead at the false belief that rational profit-maximizing