Compiled by Tae-Hee Jo (SUNY Buffalo State), Frederic S. Lee (University of Missouri-Kansas City), Nina Shapiro (St. Peter’s University), Zdravka Todorova (Wright State University).

Note: Last updated on January 31, 2014. First compiled on February 19, 2011. Only published books, book chapters, and articles are listed. Working papers are not included. Download this reading list in pdf. Go to the Textbook Page for microeconomics textbooks written from a heterodox-pluralistic perspective. 


1. History and Methodology of Heterodox Microeconomics

  1. Bortis, H. 1997. Institutions, Behaviour and Economic Theory: A Contribution to Classical–Keynesian Political Economy, chs. 1, 2, and 5. Cambridge: Cambridge University Press.
  2. Bryant, A. and Charmaz, K. (eds.) 2007. The SAGE Handbook of Grounded Theory, chs. 1, 4, 5, 8, 11, 20, 27 Los Angeles: SAGE Publications.
  3. Dobb, M. 1945. Political Economy and Capitalism: Some essays in economic tradition, ch. 1. New York: International Publishers.
  4. Dopfer, K. and Potts, J. 2008. The General Theory of Economic Evolution. Routledge, London.
  5. Dopfer, K., Foster, J. and Potts, J. 2004. Micro-meso-macro. Journal of Evolutionary Economics 14(3): 263-279.
  6. Downward, P.M. 2003. Applied Economics and the Critical Realist Critique, chs. 1-10. London: Routledge.
  7. Downward, P. and Mearman, A. 2007. Retroduction as Mixed-Methods Triangulation in Economic Research: Reorienting Economics into Social Science. Cambridge Journal of Economics 31(1): 77–99.
  8. Dugger, W. M. 1996. Redefining Economics: from market allocation to social provisioning. In C. Whalen (ed.) Political Economy for the 21st Century: contemporary views on the trends of economics, pp. 31–43, Armonk: M. E. Sharpe.
  9. Eichner, A. S. 1983. Why Economics is not Yet a Science. Armonk: M.E. Sharpe.
  10. Eichner, A. S. 1985. Towards an Empirically Valid Economics. Eastern Economic Journal 11(4): 437-449.
  11. Eichner, A. S. and Kregel, J. A. 1975. An Essay on Post-Keynesian Theory: A New Paradigm in Economics. Journal of Economic Literature 13(4): 1293-1314.
  12. Eichner, A. S. (ed). 1979. A Guide to Post-Keynesian Economics. Armonk: M.E. Sharpe.
  13. Elsner, W. 2007. Why meso? On ‘aggregation’ and ‘emergence’ and why and how the meso level is essential in social economics. Forum for Social Economics 36(1): 1-16.
  14. Emirbayer, M. and Mische, A. 1998. What is Agency? American Journal of Sociology 103(4): 962-1023.
  15. Finch, J. H. 2002. The Role of Grounded Theory in Developing Economic Theory. Journal of Economic Methodology 9(2): 213–234.
  16. Fullbrook, E. (ed). 2002. Intersubjectivity in Economics. London: Routledge.
  17. Glasser, B. G. and Strauss, A. L. 1967. The Discovery of Grounded Theory: Strategies for Qualitative Research. Chicago: Aldine Publishing.
  18. Henry, J. F. 1984-85. On Equilibrium. Journal of Post Keynesian Economics 6(2): 214-229.
  19. Henry, J. F. 1986. On economic theory and the question of solvability. Journal of Post Keynesian Economics 8(3): 371-386.
  20. Lawson, T. 2003. Reorienting Economics, chs. 1–4, 6,10. London: Routledge.
  21. Lee, F. S. 2009. A History of Heterodox Economics. London: Routledge.
  22. Lee, F. S. 2002. Theory Creation and the Methodological Foundation of Post Keynesian Economics. Cambridge Journal of Economics 26: 789-804.
  23. Lee, F. S. 2002. Post Keynesian Economics (1930-2000): An Emerging Heterodox Economic Theory of Capitalism. In Douglas Dowd (ed), Understanding Capitalism. London: Pluto Press.
  24. Lee, F. S. 2005. Teaching Heterodox Microeconomics. post-autistic economics review 31: 26-39.
  25. Lee, F. S. 2008. Heterodox Economics. In Steven N. Durlauf and Lawrence E. Blume (eds.), The New Palgrave Dictionary of Economics. London: Palgrave Macmillan.
  26. Lee, F. S. 2010. A heterodox teaching of neoclassical microeconomic theory. International Journal of Economics and Education 1(3): 203-235.
  27. Lee, F. S. and Samuels, W. J. (ed). 1992. The Heterodox Economics of Gardiner C. Means: A Collection. Armonk: M.E. Sharpe.
  28. Locke, K. 2001. Grounded Theory in Management Research, chs. 1–7. London: SAGE.
  29. Lutz, M. A. 1999. Economics for the Common Good: Two Centuries of Social Economic Thought in the Humanistic Tradition. London: Routledge.
  30. McDermott, J. 2003. Economics in Real Time: A Theoretical Reconstruction. Ann Arbor: University of Michigan Press.
  31. Morgan, M. 2012. The World in the Model, chs. 1, 3, 4, 6, 10. Cambridge University Press.
  32. Olsen, W. and Morgan, J. 2005. A Critical Epistemology of Analytical Statistics: Addressing the Sceptical Realist. Journal for the Theory of Social Behaviour 35(3): 255-84.
  33. Polanyi, K. 1968. The Economy as Instituted Process. In George Dalton (ed), Primitive, Archaic and Modern Economies: Essays of Karl Polanyi, pp. 139-174. Garden City: A Doubleday Anchor Original.
  34. Power, M. 2004. Social Provisioning as a Starting Point for Feminist Economics. Feminist Economics 10(3), 3-19.
  35. Rosenberg, A. 2001. The metaphysics of microeconomics. In Uskali Maki (ed), The Economic World View: Studies in the Ontology of Economics, pp. 174-188. Cambridge University Press.
  36. Shapiro, N. 1977. The Revolutionary Character of Post Keynesian Economics. Journal of Economic Issues 11(3): 541-560.
  37. Spash, C. L. 2012.  New Foundations for Ecological Economics. Ecological Economics 77: 36-47.
  38. Spiethoff, A. 1952, The ‘Historical’ Character of Economic Theories. Journal of Economic History 12(2): 131–9
  39. Stevenson, R. E. 1987. Institutional Economics and the Theory of Production. Journal of Economic Issues 21(4): 1471–1493.


2. Critiques of Mainstream Microeconomics

  1. Ackerman, F. 2005. Priceless Benefits, Costly Mistakes: What’s Wrong With Cost-Benefit Analysis? post-autistic economics review 25.
  2. Bougrine, H., Parker, I., and Seccareccia, M. (eds). 2010. Introducing Microeconomic Analysis: Issues, Questions, and Competing Views. Toronto: Edmond Montgomery Publications.
  3. Carter, M. R. 1985. A Wisconsin Institutionalist Perspective on Microeconomic Theory of Institutions: The Insufficiency of Pareto Efficiency. Journal of Economic Issues XIX(3): 797-813.
  4. Ferber, M. A. & Nelson, J. A. (eds).1993. Beyond Economic Man: Feminist Theory and Economics. University of Chicago Press.
  5. Guerrien, B. 2002. Once Again on Microeconomics. post-autistic economics review 16.
  6. Henry, J. F. 1990. The Making of Neoclassical Economics. Boston: Unwin Hyman.
  7. Henry, J. F. 1999. Property Rights, Markets and Economic Theory: Keynes versus Neoclassicism—again. Review of Political Economy 11(2): 151-170.
  8. Henry, J. F. 2007. “Bad” Decisions, Poverty, and Economic Theory: The Individualist and Social Perspectives in Light of “The American Myth.” Forum for Social Economics 36: 17-27.
  9. Henry, J. F. 2009. The Illusion of the Epoch: Neoclassical Economics as a Case Study. Studi e Note di Economia 14(1): 27-44.
  10. Jo, T.-H., Chester, L. and King, M. C. 2012. Beyond Market-Fundamentalist Economics: An Agenda for Heterodox Economics to Change the Dominant Narrative. On the Horizon 20(3): 155–163.
  11. Kaldor, Nicholas. 1985. Economics Without Equilibrium. Armonk: M.E. Sharpe.
  12. Keen, S. 2011. Debunking Economics, 2nd edition. Zed Books.
  13. Lee, F. S. 1981. The Oxford Challenge to Marshallian Supply and Demand: The history of the Oxford Economists’ Research Group. Oxford Economic Papers 33(3): 339-351.
  14. Lee, F. S. and Keen, S. 2004. The Incoherent Emperor: A Heterodox Critique of Neoclassical Microeconomic Theory. Review of Social Economy 62(2): 169-199.
  15. O’Boyle, E. (ed). 2010. Looking Beyond the Individualism & Homo Economicus of Neoclassical Economics. Milwaukee: Marquette University Press.
  16. Pessali, H. and Fernandez, R. 1999. Institutional Economics at the Micro Level? What Transaction Costs Theory Could Learn from Original Institutionalism (In the Spirit of Building Bridges). Journal of Economic Issues 33(2): 265-275.
  17. Pluta, J. E. 2010. Evolutionary Alternatives to Equilibrium Economics: Some Suggested Applications. American Journal of Economics and Sociology 69(4): 1155–1177.
  18. Prasch, R. E. 2009. How Markets Work: Supply, Demand and the ‘Real World’. Cheltenham: Edward Elgar.
  19. Richardson, G. B. 1990. Information and Investment. Oxford: Oxford University Press.
  20. Sivramkrishna, S. 2003. Towards a Post-Autistic Managerial Economics. post-autistic economics review 20.
  21. Rosenberg, A. 1992. Economics: Mathematical Politics or Science of Diminishing Returns? University of Chicago Press.
  22. Veblen, T. B. 1909. The Limitations of Marginal Utility. Journal of Political Economy 17(9): 620-636.



3. Principles of Heterodox Microeconomic Theory

  1. Davies, J. E. and Lee, F. S. 1988. A Post Keynesian Appraisal of the Contestability Criterion. Journal of Post Keynesian Economics 11(1): 3-25.
  2. Davis, J. B. 2003. The theory of individual in economics: identity and value. London: Routledge.
  3. De Gregori, T. R. 1987. Resources are Not; They Become: An Institutional Theory. Journal of Economic Issues 21(3): 1241–1263.
  4. Dopfer, K. 2004. The economic agent as rule maker and rule user: Homo Sapiens Oeconomicus. Journal of Evolutionary Economics 14(2): 177-195.
  5. Katzner, D. W. 2001. The significance, success, and failure of microeconomic theory. Journal of Post Keynesian Economics 24(1): 41-58.
  6. Kurz, H. D. and Salvadori, N. 2000. Classical Roots of Input-Output Analysis: A Short Account of its Long Prehistory. Economic Systems Research 12(2): 153–179.
  7. Kurz, H. D. and Salvadori, N. 2005. Representing the Production and Circulation of Commodities in Material Terms: On Sraffa’s Objectivism. Review of Political Economy 17(3): 69–97.
  8. Lee, F. S. 1998. Post Keynesian Price Theory, chs. 11, 12. Cambridge University Press.
  9. Matthaei, J. 1984. Rethinking Scarcity: Neoclasscism, NeoMalthusianism, and NeoMarxism. Review of Radical Political Economics 16(2/3): 81-94.
  10. Pasinetti, L. L. 2005. From Pure Theory to Full Economic Analysis. A Place for the Economic Agent. Cachiers d’économie politique 2(49): 211-216.
  11. Reynolds, P. J. 1987. Political Economy: A Synthesis of Kaleckian and Post Keynesian Economics. Sussex: Wheatsheaf Books.
  12. Reynolds, P. J. 1996. Kalecki’s Theory of Prices and Distribution. In J.E. King (ed.), An Alternative Macroeconomics Theory: The Kaleckian Model and Post-Keynesian Economics, pp. 73-91. Boston: Kluwer Academic Publishers.
  13. Robinson, J. V. 1953. The Production Function and the Theory of Capital. Review of Economic Studies 15(2): 81-106.
  14. Robinson, J. V. 1980. Time in economic theory. Kyklos 33: 219-229.
  15. Samuels, W. J. and Medema, S. G. 1990. Gardiner C. Means: Institutionalist and Post Keynesian. Armonk: M.E. Sharpe.
  16. Sawyer, M. C. 1985. The Economics of Michal Kalecki. Armonk: M.E. Sharpe.
  17. Sraffa, P. 1926. The Laws of Returns under Competitive Conditions. The Economic Journal 36(144): 535-550.
  18. Sraffa, P. 1960. Production of Commodities by Means of Commodities. Cambridge University Press.
  19. Steindl, J. 1952. Maturity and Stagnation in American Capitalism. Oxford: Basil Blackwell.
  20. Steindl, J. 1990. Kalecki’s Theory of Pricing: Notes on the Margin. In J. Steindl, Economic Papers, 1941-88. New York: St. Martin’s Press.
  21. Varoufakis, Y. 2008. Capitalism According to Evolutionary Game Theory: The Impossibility of a Sufficiently Evolutionary Model of Historical Change. Science and Society 72(1): 63-94.
  22. Villena, M. G. and Villena, M. J. 2004. Evolutionary Game Theory and Thorstein Veblen’s Evolutionary Economics: Is EGT Veblenian? Journal of Economic Issues 38(3): 585-610.
  23. Wood, A. 1975. A Theory of Profits. Cambridge University Press.


4. Theory of the Business Enterprise

  1. Andrews, P. W. S. 1949. Manufacturing Business. London: Macmillan.
  2. Berle, A. A. and Means, G. C. 1968. The Modern Corporation and Private Property. New York: Harcourt, Brace and World, Inc.
  3. Brady, R. A. 1943. Business as a System of Power. New York: Columbia University Press.
  4. Cornehls, J. V. 2004. Veblen’s Theory of Finance Capitalism and Contemporary Corporate America. Journal of Economic Issues 38(1): 29-57.
  5. Cyert, R. and March, J. 1964. A Behavioral Theory of The Firm. New Jersey: Prentice-Hall.
  6. Dallery, T. 2009. Post-Keynesian Theories of the Firm under Financialization. Review of Radical Political Economics 41(4): 492-515.
  7. Dean, E. N. 2013. Toward a Heterodox Theory of the Business Enterprise: The Going Concern Model and the US Computer Industry, chs. 3-4.  Ph.D. Dissertation. University of Missouri-Kansas City.
  8. Dunn, S. P. 2001. An Investigation into a Post Keynesian contribution to the Theory of the Firm. PhD Dissertation. University of Leeds.
  9. Dunn, S. P. 2002. A Post Keynesian Approach to the Theory of the Firm. In S. C. Dow (ed.), Post Keynesian Economics, Microeconomics and the Theory of the Firm. Cheltenham: Edward Elgar.
  10. Earl, P. E. 1984. The Corporate Imagination: How Big Companies Make Mistakes. Brighton: Wheatsheaf Books.
  11. Eichner, A. S. 1976. The Megacorp and Oligopoly: Micro Foundations of Macro Dynamics. Cambridge University Press.
  12. Fligstein, N. 1990. The Transformation of Corporate Control. Cambridge: Harvard University Press.
  13. Granovetter, M. 1995. Business Groups. In N.J. Smelser and R. Swedberg (eds.), Handbook of Economic Sociology, pp. 453-475. Princeton University Press.
  14. Herman, E. S. 1981. Corporate Control, Corporate Power, chs. 1, 2. Cambridge University Press.
  15. Hodgson, G. M. and Knudsen, T. 2004. The firm as an interactor: firms as vehicles for habits and routines. Journal of Evolutionary Economics 14: 281-307.
  16. Mason, E. S. (ed). 1959. The Corporation in Modern Society. Harvard University Press.
  17. Moss, S. 1981. An Economic Theory of Business Strategy, ch. 2. New York: John Wiley and Sons.
  18. Penrose, E. T. 1959. The Theory of the Growth of the Firm. Oxford: Basil Blackwell.
  19. Prechel, H. 2000. Big Business and the State: Historical Transactions and Corporate Transformation, 1880s-1990s. Albany: State University of New York Press.
  20. Serfati, C. (2008) Financial dimensions of transnational corporations, global value chain and technical innovation. Journal of Innovation Economics, 2: 35-61.
  21. Shapiro, N. 1990. The “Megacorp”: Eichner’s Contribution to the Theory of Firm. Journal of Economic Issues 24(2): 493-500.
  22. Shapiro, N. 1991. Firms, Markets, and Innovation. Journal of Post Keynesian Economics 14(1): 49-60.
  23. Shapiro, N. 2011. The Function of Firms: Alternative Views. In P. Arestis (ed.), Microeconomics, Macroeconomics and Economic Policy. Palgrave MacMillan.
  24. Veblen, T. B. 1904. The Theory of Business Enterprise. New York: Charles Scribner’s Sons.
  25. Veblen, T. B. 1923. Absentee Ownership and Business Enterprise in Recent Times: The Case of America. New York: Sentry Press.
  26. Weinstein, J. 1968. The Corporate Ideal in the Liberal State 1900-1918. Boston: Beacon Press.


5. Structure of Production and Costs of the Business Enterprise

  1. Bortis, H. 1990. Structure and change within the circular theory of production. In Mauro Baranzini and Roberto Scazzieri (eds.),The Economic Theory of Structure and Change, pp. 64-92. Cambridge University Press.
  2. Dean, J. 1976. Statistical Cost Estimation, Introduction to Part I. Bloomington: Indiana University Press.
  3. Kurz, H. D. and Salvadori, N. 1995. Theory of Production: A Long-Period Analysis. Cambridge University Press.
  4. Lee, F. S. 1986. Post Keynesian View of Average Direct Costs: A Critical Evaluation of the Theory and the Empirical Evidence. Journal of Post Keynesian Economics 8(3): 400-424.
  5. Morroni, M. 1992. Production Process and Technical Change. Cambridge University Press.
  6. Pasinetti, L. L. 1977. Lectures on the Theory of Production. Columbia University Press.


6. Costing, Pricing, and Prices

  1. Boggio, L. 1985. On the stability of production prices. Metroeconomica 37(3): 241-267.
  2. Coutts, K. and Godley, W. and Nordhaus, W. 1978. Industrial Pricing in the United Kingdom. Cambridge University Press.
  3. Coutts, K. and Norman, N. 2013. Post-Keynesian Approaches to Industrial Pricing: A Survey and Critique. In The Oxford Handbook of Post-Keynesian Economics, Volume 1: Theory and Origins, edited by G.C. Harcourt and P. Kriesler, pp. 443-466. Oxford University Press.
  4. Downward, P. M. 2009. Prices. In Jan Peil and Irene van Staveren (eds.), Handbook of Economics and Ethics, pp. 399-406. Cheltenham: Edward Elgar.
  5. Downward, P. M. 2001. Price Stickiness: A Post Keynesian Microeconomic Perspective. Eastern Economic Journal 27.
  6. Downward, P. M. 2000. A Realist Appraisal of Post Keynesian Pricing Theory. Cambridge Journal of Economics 24(2): 211–224.
  7. Downward, P. M. 1999. Pricing Theory in Post Keynesian Economics: A Realist Approach, chs. 3–8. Cheltenham: Edward Elgar.
  8. Downward, P. M. and Lee, F. S. 2001. Post Keynesian Pricing Theory “Reconsidered”? A Critical Review of Asking About Prices. Journal of Post Keynesian Economics 23(3): 465-483.
  9. Earl, P. E. 1990-91. Normal Cost versus Marginalist Models of Pricing: A Behavioral Perspective. Journal of Post Keynesian Economics 13(2): 264–281.
  10. Eichner, A. S. 1974. Determination of the Mark-Up Under Oligopoly: A Reply. Economic Journal 84: 974-980.
  11. Eichner, A. S. 1975. A Theory of the Determination of the Mark-Up Under Oligopoly: A Further Reply. Economic Journal 85: 149-150.
  12. Eichner, A. 1976. The Megacorp and Oligopoly, ch. 3. Cambridge: Cambridge University Press.
  13. Fabiani, S., Loupias, C., Martins, F., and Sabbatini, R. (eds.). 2007. Pricing Decisions in the Euro Area: How Firms set Prices and Why, parts I and II. Oxford University Press.
  14. Fillieule, R. 2010. The New Economic Sociology of Prices: An Analysis Inspired by the Austrian School of Economics. American Journal of Economics and Sociology 69(2): 668–692.
  15. Gu, G. C.  2012. Pricing, Price Stability, and Post Keynesian Price Theory. PhD. Dissertation. University of Missouri-Kansas City.
  16. Gu, G. C. and Lee, F. S. 2012. Pricing and Prices. In Elgar Companion to Post Keynesian Economics, 2nd edition, edited by J.E. King, pp. 456-462. Cheltenham: Edward Elgar.
  17. Hall, R. L. and Hitch, C. J. 1939. Price Theory and Business Behaviour. Oxford Economic Papers 2: 12-45.
  18. Hall, S, Walsh, M., and Yates, A. 2000. Are UK Companies’ Prices Sticky? Oxford Economic Papers 52(3): 425–446.
  19. Harcourt, G. C. and Kenyon, P. 1976. Pricing and the investment decision. Kyklos 29(3): 449-77.
  20. Langlois, C. C. 1989. Markup Pricing versus Marginalism: A Controversy Revisited, Journal of Post Keynesian Economics 12(1): 127-151.
  21. Langlois, C. C. 1990–91. The Empirical Testing of Pricing Rules: Response to a Symposium, Journal of Post Keynesian Economics 13(2): 282-292
  22. Lavoie, M. 2001. Pricing. In R. P. F. Holt and S. Pressman (eds.), A New Guide to Post Keynesian Economics, pp. 21–31. London: Routledge.
  23. Lee, F. S. 1985. Full Cost prices, classical price theory, and long period method analysis: a critical evaluation. Metroeconomica 37: 199-219.
  24. Lee, F. S. 1990–91. Marginalist Controversy and Post Keynesian Price Theory.  Journal of Post Keynesian Economics 13(2): 252–263.
  25. Lee, F. S. 1994. From Post Keynesian to Historical Price Theory, Part 1: Facts, Theory and Empirically Grounded Pricing Model. Review of Political Economy 6(3): 303-336.
  26. Lee, F. S. 1996. Pricing, the Pricing model and Post-Keynesian Price Theory. Review of Political Economy 8(1): 87-99.
  27. Lee, F. S. 1996. Pricing and the Business Enterprise. In C. J. Whalen (ed.), Political Economy for the 21st Century: Contemporary Views on the Trend of Economics, pp. 87-102. Armonk: M.E. Sharpe.
  28. Lee, F. S. 1998. Post Keynesian Price Theory. Cambridge University Press.
  29. Lee, F. S. 2013. Post-Keynesian Price Theory: From Pricing to Market Governance to the Economy as a Whole. In G. C. Harcourt and P. Kriesler (eds.), The Oxford Handbook of Post-Keynesian Economics. Volume 1: Theory and Origins, pp. 467-484. Oxford University Press.
  30. Lee, F. S. and Downward, P. 1999. Retesting Gardiner Means’s Evidence on Administered Prices. Journal of Economic Issues 33(4): 861-886.
  31. Melmiès, J. 2010. New-Keynesians Versus Post-Keynesians on the Theory of Prices. Journal of Post Keynesian Economics 32(3): 445-466.
  32. Melmiès, J. 2012. Price Rigidity. In The Elgar Companion to Post Keynesian Economics, 2nd edition edited by J.E. King, pp. 452-456. Edward Elgar.
  33. Mir-Artigues, P. and Gonzalez-Calvet, J. 2007. Funds, Flows, and Time: An Alternative Approach to the Microeconomic Analysis of Productive Activities. Berlin: Springer.
  34. Mongin, Philippe. 1990-91. The Early Full-Cost Debate and the Problem of Empirically Testing Profit Maximization. Journal of Post Keynesian Economics 13(2): 236-251.
  35. Morroni, M. 1992. Production Process and Technical Change, parts I and II. Cambridge: Cambridge University Press.
  36. Nichols, M., Pavlov, O. and Radzicki, M. J. 2006. The Circular and Cumulative Structure of Administered Pricing. Journal of Economic Issues XL(2): 517-526.
  37. Roncaglia, A. 1978. Sraffa and the Theory of Prices. New York: John Wiley and Sons.
  38. Sawyer, M. C. 1983. Business Pricing and Inflation. London: Macmillan.
  39. Scazzieri, R. 1983. The Production Process: General Characteristics and Taxonomy. Rivista Internazionale di Sciencze Economiche e Commerciali 30(7): 597-611.
  40. Scazzieri, R. 1993. A Theory of Production: Tasks, Processes, and Technical Practices. Oxford: Clarendon Press.
  41. Setterfield, M. 1996. A note on mark-up pricing and the distribution of income. Review of Political Economy 8(1): 79-85.
  42. Shapiro, N. 1981. Pricing and the Growth of the Firm. Journal of Post Keynesian Economics 4(1): 85-100.
  43. Shapiro, N. and M. Sawyer 2003. Post Keynesian Price Theory. Journal of Post Keynesian Economics 25 (3): 355-366.
  44. Veblen, T. B. 1921. The Engineers and the Price System. New York: Viking Press.
  45. Wilson, T. and Andrews, P. W. S. (eds).1951. Oxford Studies in the Price Mechanism, ch. 1. Oxford: Clarendon Press.


7. Investment, Finance, and Employment

  1. Baddeley, M. C. 2003. Investment: Theories and Analysis. Houndsmills: Palgrave.
  2. Bewley, T. F. 1999. Why Wages Don’t Fall During a Recession. Cambridge: Harvard University Press.
  3. Crotty, J. R. 1996. Is New Keynesian investment theory really “Keynesian”? Journal of Post Keynesian Economics, 18(3): 333-358.
  4. Dzarasov, R. 2011. Eichnerian megacorp and investment behavior of Russian corporations. Cambridge Journal of Economics 35: 199-217.
  5. Eichner, A. S. 1988. Full employment and the human element. Challenge 31(3): 4-8.
  6. Fichtenbaum, R. 2011. Do Unions Affect Labor’s Share of Income: Evidence Using Panel Data. American Journal of Economics and Sociology 70(3): 784–810.
  7. Holt, R. P. F. and Pressman, S. 2007. Empirical Post Keynesian Economics, chs. 6-9. Armonk: M.E. Sharpe.
  8. Lavoie, M., Rochon, L.-P., and Seccareccia, M. (eds.). 2010.  Money and Macrodynamics: Alfred Eichner and Post-Keynesian Economics, chs. 2-4. Armonk: M.E. Sharpe.
  9. Lavoie, M., Rodriguez, G., and Seccareccia, M. 2004. Similitudes and Discrepancies in Post-Keynesian and Marxist Theories of Investment. International Review of Applied Economics 18(2): 127-49.
  10. López, J. and Mott, T. 1999. Kalecki Versus Keynes on the Determinants of Investment. Review of Political Economy 11(3): 291-301.
  11. Milberg, W. and Shapiro, N. 2013-14. Implications of the Recent Financial Crisis for Firm Innovation. Journal of Post Keynesian Economics 36(2): 207-230.
  12. Moss, S. 1981. An Economic Theory of Business Strategy, chs. 3, 8. New York: John Wiley and Sons.
  13. Scheibl, F. and Wood, A. 2005. Investment Sequencing in the Brick Industry: An Application of Grounded Theory. Cambridge Journal of Economics 29(2): 223–247.
  14. Spencer, D. A. 2011. Work is a Four-Letter Word: The Economics of Work in Historical and Critical Perspective. American Journal of Economics and Sociology 70(3): 563-586.
  15. van Ees, H. Kuper, G. H. and Sterken, E. 1997. Investment, finance and the business cycle: Evidence from the Dutch manufacturing sector. Cambridge Journal of Economics 21(3): 395-407.


8. Households, Consumption, and Market Demand

  1. Cipollone, A. and D’Ippoliti, C. 2011. Women’s Employment: Joining Explanations Based on Individual Characteristics and on Contextual Factors. American Journal of Economics and Sociology 70(3): 756–783.
  2. Devetag, M. G. 1999. From Utilities to Mental Models: A Critical Survey on Decision Rules and Cognition in Consumer Choice. Industrial and Corporate Change 8(2): 289–351.
  3. Drakopoulos, S. A. 1994. Hierarchical Choice in Economics. Journal of Economic Surveys 8(2): 133-153.
  4. Earl, P. E. 1983. The Economic Imagination: Towards a Behavioural Theory of Choice. Brighton: Wheatsheat Books.
  5. Earl, P. E. 1986. Lifestyle Economics: Consumer Behaviour in a Turbulent World. Brighton: Wheatsheaf Books.
  6. Fine, B. 2002. The World of Consumption. The Material and Cultural Revisited. London: Routledge.
  7. Fuller, C. G. 1996. Elements of a Post Keynesian Alternative to ‘Household Production’. Journal of Post Keynesian Economics 18 (Summer): 595-607.
  8. Hamilton, D. 1987. Institutional Economics and Consumption. Journal of Economic Issues 21(4): 1531-1554.
  9. Hanmer, L. and Akram-Lodhi, A. H.1998. In the “house of the spirits”: toward a Post Keynesian theory of the household? Journal of Post Keynesian Economics 20(3): 415–33.
  10. Lavoie, M. 1992. Foundations of Post–Keynesian Economic Analysis, ch. 2. Aldershot: Edward Elgar.
  11. Lavoie, M. 1994. A Post Keynesian Approach to Consumer Choice. Journal of Post Keynesian Economics 16(Summer): 539–562.
  12. Lavoie, M. 2004. Post-Keynesian Consumer Theory: Potential Synergies with Consumer Research and Economic psychology. 
Journal of Economic Psychology 25(5): 639-649
  13. Migone, A. 2007. Consumerism: Patterns of Consumption in Contemporary Capitalism. Review of Radical Political Economics 39(2): 173-200.
  14. Philp, B. and Wheatley, D. 2011. Time Use, Exploitation, and the Dual-Career Household: Competing Perspectives. American Journal of Economics and Sociology 70(3): 587–614.
  15. Pietrykowski, B. 2009. The Political Economy of Consumer Behavior: Contesting Consumption. London: Routledge.
  16. Todorova, Z. 2007. Deficits and Institutional Theorizing about Households and the State. Journal of Economic Issues 41(2): 575-582.
  17. Todorova, Z. 2009. Money and Households in a Capitalist Economy: A Gendered Post Keynesian Institutional Analysis. Cheltenham: Edward Elgar.
  18. Todorova, Z. 2013. Conspicuous Consumption as Routine Expenditure and its Place in the Social Provisioning Process. American Journal of Economics and Sociology 72(5): 1183-1204.
  19. Trigg, A. 2001. Veblen, Bourdieu, and Conspicuous Consumption. Journal of Economic Issues 35(1): 99-115.
  20. Veblen, T. B. 1899. The Theory of the Leisure Class: An Economic Study of Institutions. MacMillan.


9. Industry and Market

  1. Blair, J. M. 1972. Economic Concentration: Structure, Behavior and Public Policy. New York: Harcourt Brace Javanovich.
  2. Champlin, D. and Hake, E. 2006. Immigration as industrial strategy in American meatpacking. Review of Political Economy 18(1): 49-70.
  3. Chester, L. 2010. Actually Existing Markets: The case of Neoliberal Australia. Journal of Economic Issues 44(2): 313-323.
  4. Chester, L. 2013. The Failure of Market Fundamentalism: How Electricity Sector Restructuring is Threatening the Economic and Social Fabric. Review of Radical Political Economics 45(3): 315-322.
  5. Chester, L. 2013. The Organization, Operation and Outcomes of Actually Existing Markets: A Suggested Approach for Empirical Analysis. American Journal of Economics and Sociology 72(2): 386-422.
  6. Fligstein, N. 1996. Markets as Politics: A Political-Cultural Approach to Market Institutions. American Sociological Review 61(4): 656-673.
  7. Fligstein, N. 2001. The Architecture of Markets. Princeton University Press.
  8. Galbraith, J. K. 1967. The New Industrial State. Boston: Houghton Mifflin.
  9. Granovetter, M. 1985. Economic Action and Social Structure: The Problem of Embeddedness. American Journal of Sociology 91(November): 481–510.
  10. Hamilton, W. H. 1974. Industrial Policy and Institutionalism. New York: Augustus M. Kelley.
  11. Hermann, A. 2008. The Institutional Analysis of the Market. International Journal of Green Economics 2(4): 379–391.
  12. Lee, F.S. (ed). 2014. Social Costs of Markets and Economic Theory. Wiley-Blackwell.
  13. Smelser, N. J. and Swedberg, R. (eds.). 1994. The Handbook of Economic Sociology, chs. 11, 15. Princeton University Press.


10. Competition

  1. Aaronovitch, S. and Sawyer, M. C. 1975. Big Business: Theoretical and Empirical Aspects of Concentration and Mergers in the United Kingdom. London: Macmillan Press.
  2. Baskoy, T. 2003. Thorstein Veblen’s Theory of Business Competition. Journal of Economic Issues 37(4): 1121-1137.
  3. Berk, G. 2009. Louis D. Brandeis and the Making of Regulated Competition, 1900-1932. Cambridge University Press.
  4. Best, M. H. 1990. The New Competition: Institutions of Industrial Restructuring. Cambridge: Polity Press.
  5. Campbell, J., Hollingsworth, J., and Lindberg, L. (eds.) 1991. Governance of the American Economy, chs. 1, 2, 11, 12. Cambridge University Press.
  6. Clifton, J. A. 1987. Competitive Market Process. In The New Palgrave Vol. I, A to D, edited by J. Eatwell, M. Milgate, and P. Newman, pp. 553–556. New York: Stockton Press.
  7. Crotty, J. R. 2003. The neoliberal paradox: the impact of destructive product market competition and impatient finance on nonfinancial corporations in the neoliberal era. Review of Radical Political Economics 35(3): 271-279.
  8. Eichner, A. S. 1969. The Emergence of Oligopoly: Sugar Refining as a Case Study. Baltimore and London: The Johns Hopkins Press.
  9. Grabher, G. (ed.) 1993. The Embedded Firm, chs. 1-2. London: Routledge.
  10. Hake, E. 1998. Financial Innovation as Facilitator of Merger Activity. Journal of Economic Issues 32 (1): 145–70.
  11. Harrod, R. F. 1934. Doctrines of Imperfect Competition. Quarterly Journal of Economics 48(3): 442–470.
  12. Lee, F. S. (ed). 2013. Markets, Competition, and the Economy as a Social System. Wiley-Blackwell.
  13. Lerner, A. P. 1934. The Concept of Monopoly and the Measurement of Monopoly Power. Review of Economic Studies 1(June): 157–175.
  14. Moss, S. 1981. An Economic Theory of Business Strategy, chs. 5-8. New York: John Wiley and Sons.
  15. Moudud, J.K. Bina, C. and Mason, P.L. (eds). 2012. Alternative Theories of Competition: Challenges to the Orthodoxy. London: Routledge.
  16. Munkirs, J. and Sturgeon, J. 1985. Oligopolistic Cooperation: Conceptual and Empirical Evidence of Market Structure Evolution. Journal of Economic Issues 19(4): 899-921.
  17. Reinwald, T. P. 1977. The Genesis of Chamberlinian Monopolistic Competition Theory. History of Political Economy 9: 522–534.
  18. Richardson, G. B. 1965. The Theory of Restrictive Trade Practices. Oxford Economic Papers 17 (November): 432–449.
  19. Robinson, J. V. 1932. Imperfect Competition and Falling Supply Price. The Economic Journal 42 (December): 544–554.
  20. Robinson, J. V. 1933. Economics of Imperfect Competition. London: Macmillan.
  21. Robinson, J. V. 1934. What is Perfect Competition? Quarterly Journal of Economics 49(1): 104-120.
  22. Robinson, J. V.  1953.  ‘Imperfect Competition’ Revisited. The Economic Journal 63(September):  579–593.Shapiro, N. 1997. Imperfect Competition and Keynes. In A ‘Second Edition’ of The General Theory Vol. I, pp. 83-92. Edited by G.C. Harcourt and P. Riach, London: Routledge and Kegan Paul.
  23. Shapiro, N. 2005. Competition and Aggregate Demand. Journal of Post Keynesian Economics 27(3): 541-549.
  24. Shapiro, N. 2011. Competition. In Elgar Companion to Radical Political Economy, edited by M. Sawyer and P. Arestis. Cheltenham: Edward Elgar.
  25. Sweezy, P. M. 1939. Demand under Conditions of Oligopoly.  Journal of Political Economy 46 (August): 568–573.


11. Corporate Governance, Market Governance, and Market Regulation

  1. Baskoy, T. 2012. Market Governance. In The Elgar Companion to Post Keynesian Economics, edited by J. E. King, 2nd edition, pp. 387–392. Cheltenham: Edward Elgar.
  2. Chandler, A. D. 1977. The Visible Hand. Harvard University Press.
  3. Clapham, J. 1963. Economic Development of France and Germany, 1815-1914. Fourth edition. Cambridge University Press.
  4. Eichner, A. S. 1969. The Emergence of Oligopoly: Sugar Refining as a Case Study. Johns Hopkins Press.
  5. Fligstein, N. 1990. The Transformation of Corporate Control. Harvard University Press.
  6. Groenewegen, J. 2004. Who Should Control The Firm? Insights From New And Original Institutional Economics. Journal of Economic Issues 38(2): 353-361.
  7. Ho, Karen. 2009. Liquidated: An Ethnography of Wall Street. Durham: Duke University Press.
  8. Howe, M. 1972-3. A Study of Trade Association Price Fixing. Journal of Industrial Economics 21: 236-256.
  9. Ireland, P. 2010. Limited liability, shareholder rights and the problem of corporate irresponsibility. Cambridge Journal of Economics 34: 837-856.
  10. Jo, T.-H. 2013. Saving Private Business Enterprises: A Heterodox Microeconomic Approach to Market Governance and Market Regulation. American Journal of Economics and Sociology 73(2): 447-467.
  11. Kolko, G. 1963. The Triumph of Conservatism: A Reinterpretation of American History, 1900-1916. New York: The Free Press.
  12. Larner, W. 1997. The legacy of the social: Market governance and the consumer. Economy and Society 26(3): 373-399.
  13. Lazonick, W. and O’Sullivan, M. 2000. Maximizing Shareholder Value: A new ideology for corporate governance. Economy and Society 29(1): 13-35.
  14. Markham, J. W. 1951. The Nature and Significance of Price Leadership. American Economic Review 41(December): 891–905.
  15. McCarthy, K.J. and Dolfsma, W. (eds). 2013. Understanding Mergers and Acquisitions in the 21st Century. Basingstoke: Palgrave Macmillan.
  16. Meyer, P. B. 1986. The Corporate Person and Social Control: Responding to Deregulation. Review of Radical Political Economics 18(3): 65-84.
  17. Miller, E. S. 1996. Economic Regulation and New Technology in the Telecommunications Industry. Journal of Economic Issues 30(3): 719-733.
  18. Smelser, N. J. and Swedberg, R. (eds.) 1994. The Handbook of Economic Sociology, ch. 18. Princeton University Press.
  19. Soederberg, S. 2010. Corporate Power and Ownership in Contemporary Capitalism: The Politics of Resistance and Domination. London: Routledge.
  20. Sturgeon, J. 1983. Micro Macro Literature and the Implications of Centralized Private Sector Planning.  Journal of Economic Issues 17(4): 985-1009.
  21. Talbot, L. 2013. Why Shareholders Shouldn’t Vote: A Marxist-Progressive Critique of Shareholder Empowerment. Modern Law Review 76(5): 791-816.
  22. Talbot, L. 2013. Progressive Corporate Governance for the 21st Century. London: Routledge.


12. Social Welfare

  1. Cesaratto, S. 2008. The classical ‘surplus’ approach and the theory of the welfare state and public pensions. In Chodi, G. and Ditta, L. (eds.), Sraffa or an Alternative Economics. London: Palgrave Macmillan.
  2. Eichner, A. S. 1976. The Megacorp and Oligopoly: Micro Foundations of Macro Dynamics, ch. 8. Cambridge University Press.
  3. Figart, D. 1997. Gender as More Than a Dummy Variable: Feminist Approaches to Discrimination. Review of Social Economy 55(1): 1-32.
  4. Hargreaves Heap, S. P. 1989. Towards a post-Keynesian welfare economics. Review of Political Economy 1(2): 144-162.
  5. Henry, J. F. 2007. “Bad” decisions, poverty, and economic theory: The individualist and social perspectives in light of “the American myth.” Forum for Social Economics 36: 17–27
  6. Jo, T.-H. 2012. Welfare Economics. In Elgar Companion to Post Keynesian Economics, edited by J. E. King, pp. 593-598. 2nd edition. Cheltenham: Edward Elgar.
  7. Kalecki, M. 1990 [1934]. The business cycle and welfare. In Osiatyński, J. (ed.), Collected Works of Michal Kalecki, vol. 1, pp. 174–181. Oxford University Press.
  8. Levine, D. P. 2008. Welfare, Right, and the State. London, Routledge.
  9. Lutz, M. A. 1999. Economics for the Common Good: Two Centuries of Social Economic Thought in the Humanistic Tradition, ch. 5.  London: Routledge.
  10. Pressman, S. 2006. A Post Keynesian theory of the state. In Pressman, S. (ed.), Alternative Theories of the State. New York: Palgrave Macmillan
  11. Samuels, W. J. 1994. On macroeconomic politics, Journal of Post Keynesian Economics 16(4): 661-671.


13. Heterodox Microfoundations and Modeling the Economy

  1. Bergh, J.C.J.M. van den. and Gowdy, J. 2003. The Microfoundations of Macroeconomics: an Evolutionary Perspective. Cambridge Journal of Economics 27: 65-84.
  2. Bortis, H. 1997. Institutions, Behaviour and Economic Theory. Cambridge University Press.
  3. Bortis, H. 2003. Marshall, the Keynesian revolution and Sraffa’s significance. Journal of Economic Studies 31(1): 77-97.
  4. Bortis, H. 2003. Keynes and the Classics: Notes on the Monetary Theory of Production. In Modern Theories of Money, pp. 411 – 474, edited by L.-P. Rochon and S. Rossi. Cheltenham: Edward Elgar.
  5. Dow, S. C. 1985. Microfoundations: A Diversity of Treatments. Eastern Economic Journal 11(4), 342-360.
  6. Duarte, P. G. and Lima, G. T. (eds). 2012. Microfoundations Reconsidered: The Relations of Micro and Macroeconomics in the Historical Perspective. Cheltenham: Edward Elgar.
  7. Eichner, A. S. 1976. The Megacorp and Oligopoly, chs. 5, 7, 8. Cambridge University Press.
  8. Eichner, A. S. 1983. The micro foundations of the corporate economy. Managerial and Decision Economics 4(3): 136-152.
  9. Eichner, A. S. 1987. The Macrodynamics of Advanced Market Economies. Armonk: M.E. Sharpe.
  10. Fleetwood, S. 2011. Sketching a socio-economic model of labour markets. Cambridge Journal of Economics 35: 15-38.
  11. Hayden, F. G. 1982. Social Fabric Matrix: From Perspective to Analytical Tool. Journal of Economic Issues 16(3): 637-662.
  12. Hayden, F. G. 2009. Utilization of the Social Fabric Matrix to Articulate a State System of Financial Aid. In T. Natarajan; W. Elsner and S. Fullwiler (eds.), Institutional Analysis and Praxis: The Social Fabric Matrix Approach, pp. 209-235. New York: Springer.
  13. Hodgson, G. M. 2000. From Micro to Macro: the Concept of Emergence and the Role of Institutions. In L. Burlamaqui, A. C. Castro, and H.-J. Chang (eds.), Institutions and the Role of the State, pp. 103-126. Aldershot: Edward Elgar.
  14. Jo, T.-H. 2007. Microfoundations of Effective Demand. PhD thesis, University of Missouri–Kansas City.
  15. Jo, T.-H. 2011. Social Provisioning Process and Socio-Economic Modeling. American Journal of Economics and Sociology 70(5): 1094-1116
  16. Jo, T.-H. 2011. A Heterodox Microfoundation of Business Cycles. In J. Leclaire; T.-H. Jo and J. E. Knodell (eds.), Heterodox Analyses of Financial Crisis and Reform. Cheltenham: Edward Elgar.
  17. Kalecki, M. 1971. Selected Essays on the Dynamics of the Capitalist Economy 1933-1970. Cambridge University Press.King, J. E. 2006. Imperfectionism in Macroeconomics: Old Light on a New Controversy. Economic Issues 11(2): 39–49.
  18. King, J. E. 2009. Microfoundations? In E. Hein, T. Niechoj, and E. Stockhamme (eds.), Macroeconomic Policies on Shaky Foundations: Whither Mainstream Economics. Metropolis.
  19. King, J. E. 2012. The Microfoundations Delusion: Metaphor and Dogma in the History of Macroeconomics. Cheltenham: Edward Elgar.
  20. Kregel, J. A. 1991. The Integration of Micro and Macroeconomics through Macrodynamic Megacorps. In William Milberg, ed.,The Megacorp and Macrodynamics, pp.133-142. Armonk: M.E. Sharpe.
  21. Kriesler, P. 1987. Kalecki’s Microanalysis. Cambridge University Press.
  22. Kriesler, P. 1996. Microfoundations: a Kaleckian Perspective. In J.E. King (ed.), An Alternative Macroeconomic Theory: the Kaleckian Model and Post Keynesian Economics, pp. 55-72. Boston: Kluwer.
  23. Lavoie, M., Rochon, L.-P., and Seccareccia, M. 2010. Money and Macrodynamics: Alfred Eichner and Post-Keynesian Economics, chs. 1, 2, 3, and 4. Armonk: M.E. Sharpe.
  24. Lee, F. S. 2013. Review of John E. King (2012), The Microfoundations Delusion: Metaphor and Dogma in the history of macroeconomics. Economic and Labour Relations Review 24(2): 255-260.
  25. Lee, F. S. (ed). 2011. Social Provisioning, Embeddedness, and Modeling the Economy. Wiley-Blackwell.
  26. Lee, F. S. 2011. Modeling the Economy as a Whole: An Integrative Approach. American Journal of Economics and Sociology 70(5): 1282-1314
  27. Lee, F. S. 2009. The Economics of the Industrial Workers of the World: Job control and revolution, in Frederic S. Lee and Jon Bekken (eds.), Radical Economics and Labor: Essays inspired by the IWW Centennial, pp. 55-77. London: Routledge.
  28. Lee, F. S. 2010. Alfred Eichner’s Missing “Complete Model”: A Heterodox Micro-Macro Model of a Monetary Production Economy. In M. Lavoie, L.-P. Rochon and M. Seccareccia (eds.), Money and macrodynamics: Alfred Eichner and post-Keynesian economics, pp. 22-42. M.E. Sharpe.
  29. Lee, F. S. 1996. Pricing, the Pricing Model and Post–Keynesian Price Theory. Review of Political Economy 8(January): 87–99.
  30. Lee, F. S. 1998. Post Keynesian Price Theory, ch. 12. Cambridge University Press.
  31. Lee, F. S. and Jo, T.-H. 2011. Social Surplus Approach and Heterodox Economics. Journal of Economic Issues, 45(4): 857-875
  32. Lutz, M. A. 1999. Economics for the Common Good: Two Centuries of Social Economic Thought in the Humanistic Tradition, chs. 1, 5, 6, 7, 8, 11. London: Routledge.
  33. Marcuzzo, M. C. 1996. Alternative Microeconomic Foundations for Macroeconomics: the controversy over the L-shaped cost curve revisited. Review of Political Economy 8(1): 7-22.
  34. Martins, N. O. 2013. The Cambridge Revival of Political Economy. London: Routledge.
  35. Martins, N. O. 2013. Classical surplus approach and heterodox economics. American Journal of Economics and Sociology 72(5): 1205-1231.
  36. Milberg, W. (ed.) 1992. The Megacorp and Macrodynamics: Essays in Memory of Alfred Eichner. M.E. Sharpe.
  37. Mott, T. 1992. In What Sense Does Monopoly Capital Require Monopoly? An Essay on the Contribution of Kalecki and Steindl. In J. B. Davis (ed.), The Economic Surplus in Advanced Economies, pp. 114-129. Edward Elgar.
  38. O’Boyle, E. J. 1996. Social Economics: Premises, Findings and Policies, chs. 1, 4, 5, 6, 7, 8, 10. London: Routledge.
  39. O’Boyle, E. J.  2011. The Acting Person:  Social Capital and Sustainable Development. Forum for Social Economics 40(1): 79-98.
  40. Palsson Syll, L. 2014. Micro vs. Macro. real-world economics review 65: 12-29.
  41. Shapiro, N. 1988. Market Structure and Economic Growth: Steindl’s Contribution. Social Concept 4(2): 72–83.
  42. Todorova, Z. 2013. Connecting social provisioning and functional finance in a post-Keynesian–Institutional analysis of the public sector. European Journal of Economics and Economic Policies: Intervention 10(1): 61-75.
  43. Todorova, Z. 2009. Money and Households in a Capitalist Economy: A Gendered Post Keynesian-Institutional Analysis, chs. 2, 3. Cheltenham: Edward Elgar.
  44. Trigg, A. B. 2008. Quantity and Price Systems: Toward a Framework for Coherence between Post-Keynesians and Sraffian Economics, in John T. Harvey and Jr. Robert F. Garnett, ed., Future Directions for Heterodox Economics, pp. 127-141. Ann Arbor: University of Michigan Press.

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