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A critical perspective on heterodox production modeling

Michael Murray ()

MPRA Paper from University Library of Munich, Germany

Abstract: Production and distribution needs a proper place in heterodox economics. It has recently been suggested that the construction of production models needs to be empirically grounded. Also it has been stated that empirically grounded production models must be circular production models. This argument then marginalizes the contributions of important economists in heterodox thought. The paper will argue that heterodox production models need not be perfectly circular to make important contributions for heterodox production theory. Furthermore, it will be argued that models which consist of elements of hierarchial structures of production put emphasis on out of equilibrium traverse processes and historical time.

Keywords: Heterodox Economic Theory; Heterodox Price and Production Modeling (search for similar items in EconPapers)
JEL-codes: B16 B21 B50 B53 (search for similar items in EconPapers)
Date: 2011-10-21
New Economics Papers: this item is included in nep-cis, nep-hme, nep-hpe and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:34255

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