Summary of MICHAL KALECKI. TEORÍA DE LA DINÁMICA ECÓNOMICA: Determinación de precios

00:00:00 - 00:35:00

This video discusses the theory of economic dynamics and how it affects the determination of prices. It explains how different factors, such as costs of production, demand, and competition, can influence prices. It also discusses how economic conditions can impact prices.

• 00:00:00 Michal KalECKI's book, "The Theory of Economic Dynamics: Essays on the Movement of Economic Systems", is divided into two parts: the first, "The Theory of Cyclical Movements and Long-Term Development", was published in 1954, and the second, "Selected Essays on the Dynamics of the Capitalist Economy", was published after his death in 1970. KalECKI covers microeconomic and macroeconomic topics in this book, and his main focus is on the employment and production levels of an economy. He discusses the effects of price and market forces on different types of products, and revisits some of his earlier theories in this section. He then moves on to discussion of changes in the capitalist system over time, and how the theories discussed earlier influence the current situation. Overall, this book provides a comprehensive overview of KalECKI's work in the micro- and macroeconomics spheres.
• 00:05:00 Kalecksi discusses the theory of economic dynamics, and how demand for finished goods can be elastic, while demand for other goods (such as agricultural products and consumer goods) tends to be inelastic. He then uses an example of the jota company, to illustrate how demand for its products can increase even when reserves of productive capacity are already at a predetermined level.
• 00:10:00 KalECKI discusses the theory of economic dynamics, which determines prices by taking into account the value of inputs involved in production. He explains that, under certain conditions, a company's monopoly power can cause its prices to be higher than average, leading to a loss of economic efficiency. He also discusses the concept of imperfect competition, which is incompatible with the theory of market equilibrium. In order to illustrate these concepts, KalECKI discusses the case of a company producing similar goods as another company. The first company's costs of production (costs of inputs) will be greater than average, and its prices will be higher than those of the competing company.
• 00:15:00 Kalecinski discusses the theory of economic dynamics, which determines prices. He sums the other component and subtracts it from hwat is left, and that is the internal component. He then proceeds to factorize, knowing that the pj values can be grouped because they are terms common to both. He then gets pj from one term and gives pj of game, which is also pj of income. Thus, the final equation is pj = mj + nj, where mj is the slope of the regression line and nj is the intercept. This establishes that the degree of monopolization and the distribution of product prices are inversely related.
• 00:20:00 Kalecinski explains how to calculate the slope of a linear regression line using the equation of the line, the y-intercept, and the x-intercept. He also demonstrates how to graph a linear regression line.
• 00:25:00 This video discusses the theory of economic dynamics, which explains the determination of prices. It states that direct influences on prices can be seen even though the graph shown here shows a linear change, as the x-axis moves upward water levels. If an increase in monopoly level causes prices to move upward, the level of price will continue to increase until it reaches a point where it is no longer determined by supply and demand. This point is referred to as a market saturation point. When the level of monopoly increases, the y-axis moves in a larger and more significant arc toward the left, representing a higher price level. This increase in price is due to the fact that a smaller movement will cause a large movement in the price. The video then discusses the effects of monopolies in Mexico, which have a significant impact on the average price of all products in the sector. This occurs because the monopoly level affects the value of the x-axis at the point of interest section. This is the slope of the regression line and is also referred to as the intercept. The higher the monopoly level, the steeper the slope will be, and the more similar the prices of all products will be.
• 00:30:00 This video discusses the theory of economic dynamics, focusing on the determination of prices. It discusses the role of wages, general costs, and the power of labor unions in pricing. It also discusses the effects of inflation on price determination. The video explains how, in an economy with a strong labor union presence, margins of profit can be reduced due to the increased bargaining power of labor.
• 00:35:00 This video discusses the determinants of prices, including costs of production, demand, and competition. It also discusses the impact of economic conditions on prices.