Özet

This book makes a well written and clearly argued contribution to important questions about the nature of competition in capitalist societies. It develops a conception of competition as a survival process which is dynamic as opposed to the static nature of the neoclassical view of competition as a market structure. It provides a framework for the joint analysis of firms, pricing, financing and investment decisions. The institutional structure of the economy becomes an integral part in the analysis of the competitive process.

It is argued that firms target their profits on the basis of their costs and investment decisions. Profit targeting behaviour and the differences in international financing ratios are tested for the USA. The institutional assumptions are explored from the comparative and international perspective.

The book will be essential reading for both industrial economists as well as those with an interest in post Keynesian economics.