Neo-Schumpeterian price theory with Sraffian and post-Keynesian elements
This paper contributes to the development of a neo-Schumpeterian price theory by combining elements of Sraffian and post-Keynesian price theory with elements drawn from Schumpeter’s own theory of prices. The result is an integrated heterodox approach to price theory incorporating the realism of post-Keynesian pricing rules and the rigour of Sraffa’s formal modelling, along with Schumpeter’s insight that capitalism develops “from within” in a disruptive and uneven manner.
KeywordsSchumpeter Price theory Sraffa Post-Keynesian
JEL classificationD40 O30 B52
The author is grateful for comments received from conference participants, especially Brendan Markey-Towler and Beniamino Callegari. Additional comments from two anonymous referees have been most useful in revising the paper to clarify several points. The author remains responsible for any remaining errors or omissions.
Compliance with ethical standards
Conflict of interest
Harry Bloch declares that he has no conflict of interest.
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