Steedman versus Kalecki

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Steedman versus Kalecki: Erste Fassung

Author:: Steindl, Josef

Scope:: Typoskript, 6 Blätter, 7 Seiten, mit zahlreichen eigenhändigen Korrekturen und Ergänzungen

Year of publication:: 1993

Source material date:: [vermutlich um 1993]

Language:: English

Description:: Ian Steedman, Michal Kalecki, Preistheorie.

Related work:: Steindl, Josef: Steedman versus Kalecki. In: Review of Political Economy, Vol. 5, Issue 1, 1993, S. 119-123

JEL Classification:: E11 [General Aggregative Models: Marxian, Sraffian, Kaleckian]

Shelfmark:: S/M.13.3

Access:: Free access

STEEDMANN VERSUS KALECKI y / Ian Steedmann has presented an interesting critical comment on Kalecki's pricing theory. His arguments are built round one main idea:The circularity of production which means that many outputs become inputs in turn, and therefore prices become costs. This feedback is not taken account in Kalecki's reasoning. Steedmann therefore proposes that mark up pricing should be combined with input-output techniques in order to demonstrate how a price system is determined by the individual mark ups of the various industries and their interrelations. In this way we should see how the price obtained by marking up input in one industry becomes cost of input in other industries and ultimately, in a round about way, quite likely willl influence the cost of input in the industry in question. In practical application this involves a repeated calculation which hopefully will converge ultimately, but it threatens to be quite complicated. I hardly dare to mention the fact that according to Kalecki also the mark up in different firms of the same industry is different in principle, which certainly could be only inadequately taken account of by an average mark up. It seems to me quite essential that this input-output technique has to assume there is only one commodity for each industry. This automatically eliminates the noxious case of joint production. Steedmann makes this assumption quite clearly in the early section of his paper, but he promises to drop it in the later sections. If the reader turns to the last sections, in the hopeful expectation of finding there a positive theory of price formation under

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