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A Kaleckian Firm-Based Perspective on the Persistence of Oligopoly

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Mbeki, N. A Kaleckian Firm-Based Perspective on the Persistence of Oligopoly. Journal of Contextual Economics – Schmollers Jahrbuch, 99999(), 1-23. https://doi.org/10.3790/schm.2025.409350
Mbeki, Nobantu "A Kaleckian Firm-Based Perspective on the Persistence of Oligopoly" Journal of Contextual Economics – Schmollers Jahrbuch 99999., 2025, 1-23. https://doi.org/10.3790/schm.2025.409350
Mbeki, Nobantu (2025): A Kaleckian Firm-Based Perspective on the Persistence of Oligopoly, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 99999, iss. , 1-23, [online] https://doi.org/10.3790/schm.2025.409350
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A Kaleckian Firm-Based Perspective on the Persistence of Oligopoly

Mbeki, Nobantu

Journal of Contextual Economics – Schmollers Jahrbuch, Online First : pp. 1–23

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Duncker & Humblot
DOI
https://doi.org/10.3790/schm.2025.409350
Language
Multiple languages
Pages
23
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open-access CC BY 4.0
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Nobantu Mbeki, School of Economics and Finance, University of the Witwatersrand, Johannesburg, South Africa

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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.

Table of Contents

Section Title Page Action Price
Nobantu Mbeki: A Kaleckian Firm-Based Perspective on the Persistence of Oligopoly 1
1. Introduction 1
2. Background 2
3. A Brief Overview of Micro-Distribution Theory 4
4. The Degree of Monopoly, Pricing, Profits, and Investment 6
4.1 Growth Maximising 8
4.2 Profit Maximisation 11
5. Inside the Firm 14
6. Conclusion 18
References 18

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