Title: Heterodox microeconomics: the case of corn flour in Mexico

Authors: Gustavo Vargas Sanchez

Addresses: Faculty of Economics, National Autonomous University of Mexico, Mexico City, Mexico

Abstract: This article uses heterodox microeconomics (especially Andrews, Eichner, Lee, and Lavoie) to analyse the market dynamics of corn flour in Mexico, and more specifically, the role of megacorporations, pricing, competition, and the relationship between competition strategies and the dynamics of accumulation. Corn flour is the basic input for the production of tortillas, a fundamental food in the Mexican diet, a product that has been globally industrialised, allowing us to demonstrate its efficacy in understanding modern capitalist enterprises. First, we analyse the corn flour market in Mexico, and second, market forces, competitive strategies, and pricing strategies. Finally, using the theoretical framework of heterodox microeconomics, we represent pricing, innovation, market power, financial effects, and accumulation.

Keywords: heterodox microeconomics; megacorporation; microeconomics; price fixing; competition; market power; Mexican corn flour.

DOI: 10.1504/IJPEE.2020.111293

International Journal of Pluralism and Economics Education, 2020 Vol.11 No.2, pp.172 - 188

Accepted: 05 Aug 2020
Published online: 04 Nov 2020 *

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