Research over the last 10 to 15 years on the possibility of a Sraffa—Keynes synthesis has, in part, been concerned with clarifying the concept of a normal rate of capacity utilization, as well as its role in price determination and its interdependence with relative prices. This paper examines...

The paper reflects on two phenomena seen by orthodoxy as key defining characteristics of imperfect competition: product differentiation and restricted mobility of resources. Product differentiation is first considered in terms of its significance within a Sraffian price model. This in turn...

This paper examines Kalecki's explanation of investment in his 1968 paper 'Trend and business cycles reconsidered' and his idea on the relationship between the long-run trend and the business cycle. An important aspect of that explanation is a comparison between actual and the so-called...