The present paper seeks to provide some new insights into the precise nature and the analytical foundations (or lack of them) of the familiar industry supply curve. We reconsider some fundamental phases of its historical evolution. Two different traditions are distinguished: one consists of the...

A Kaleckian mark-up theory of pricing implies a trade-off frontier between mark-ups and wages, with the result that mark-ups and wages cannot all be independently determined-by whatever processes. Wages in different industries are just as much in conflict as are wages and mark-ups. The way in...

'Perverse' behavior in capital theory results stems from the changes in relative prices provoked by a change in distribution, even in the presence of unchanged methods of production. But it does not follow that perverse results cannot arise in a 'one commodity' model; they can arise if there is...

Contrary to what is often suggested, values do follow a very simple rule as the rate of profit r varies, provided only that the system is square. None of single production, semi-positive vertically integrated input coefficients, or regularity a la Schefold needs to be assumed. Furthermore, that...