ABSTRACT
In previous chapters we have considered the general methodological foundations of Post Keynesian theory and its nexus to uncertainty. Nevertheless, although we have argued that Post Keynesianism is coherent, principally at the methodological level, and defined by its recognition of the importance of uncertainty and its nexus to the elaboration of the principle of effective demand, it will no doubt be unclear to the reader how this relates to what is commonly associated with its microeconomic core. While Post Keynesian micro-theorists recognise the embeddedness of the firm and its pricing practices in history they have not, generally speaking, explicitly linked their discussion to attempt a methodological delineation of its core in order to underpin its drive towards coherence. This chapter attempts to consider the relationship between what is frequently identified as part of the core of Post Keynesian price theory and its nexus to its conceptualisation of uncertainty.
