Abstract

VARGAS SANCHEZ, Gustavo. The New Dynamic Microeconomics. Inv. Econ [online]. 2007, vol.66, n.262, pp.171-204. ISSN 0185-1667.

The theory of supply in orthodox microeconomics' agenda is focused on the investigation and analysis of the conditions to demonstrate partial and general economics equilibrium. Therefore, the neoclassical economics does not contain an economic theory of the real firm. This is not the case in modern microeconomics, or dynamic microeconomics, which even though it is in process of construction, it provides us with an useful theory to understand enterprise performance.

The new microeconomics is dynamic because of the nature of the corporation. In that sense in this paper we are analyzing three internal and structural characteristics of the capitalist enterprise: its productive structure, analysis of costs and price theory. All of the above constitute what we define as the micro-structure which determines the firm's dynamics.

This theoretical explanation of the enterprise's dynamism allows us to explain on one hand the processes of concentration and accumulation in the real economy, and on the other hand, contribute to the field of debate and theoretical analysis. This paper underlines the importance of unorthodox price theory and the relevancy of effective demand to determine employment at microeconomics level. The central argument is: the capitalist firm possesses structural characteristics which result on its being fundamentally dynamic.

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