Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324948 
Authors: 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Contextual Economics – Schmollers Jahrbuch [ISSN:] 2568-762X [Volume:] 142 [Issue:] 4 [Year:] 2022 [Pages:] 409-431
Publisher: 
Duncker & Humblot, Berlin
Abstract: 
Theories of monopoly capitalism integrate microeconomic and macroeconomic elements to account for the behaviour of firms. The modern corporation is the unit of analysis at the firm, industry, and macroeconomic levels. This changes the analysis in at least two fundamental ways. First, oligopoly is the dominant market structure. Second, perfect competition is absent in the analysis. This article builds on these features but offers a firm-level explanation for these effects. It proposes that they are the outcome of how firms impose stability in an instability-prone environment.
Subjects: 
Heterodox Economics
Firm Behaviour
Pricing
Oligopolists
JEL: 
B59
D21
D43
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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