external_content.epub
In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maxim...
| Γλώσσα: | English |
|---|---|
| Έκδοση: |
University of Michigan Press
2021
|
| id |
oapen-20.500.12657-50686 |
|---|---|
| record_format |
dspace |
| spelling |
oapen-20.500.12657-506862023-02-01T08:49:42Z In Defense of Monopoly McKenzie, Richard B. Lee, Dwight R. Business & Economics Economics Theory bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCA Economic theory & philosophy In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. 2021-10-01T05:31:01Z 2021-10-01T05:31:01Z 2008 book 9780472901142 https://library.oapen.org/handle/20.500.12657/50686 eng application/epub+zip n/a external_content.epub University of Michigan Press University of Michigan Press 10.3998/mpub.93419 102014 10.3998/mpub.93419 e07ce9b5-7a46-4096-8f0c-bc1920e3d889 b818ba9d-2dd9-4fd7-a364-7f305aef7ee9 9780472901142 Knowledge Unlatched (KU) University of Michigan Press Knowledge Unlatched open access |
| institution |
OAPEN |
| collection |
DSpace |
| language |
English |
| description |
In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time.
Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. |
| title |
external_content.epub |
| spellingShingle |
external_content.epub |
| title_short |
external_content.epub |
| title_full |
external_content.epub |
| title_fullStr |
external_content.epub |
| title_full_unstemmed |
external_content.epub |
| title_sort |
external_content.epub |
| publisher |
University of Michigan Press |
| publishDate |
2021 |
| _version_ |
1771297632441860096 |
