Monopolistic competition theory: origins, results, and implications

In the 1920s, when the world economy began to show signs of crisis, a number of leading economists questioned the ability of a free-market economy to ensure automatic stability. They were also dissatisfied with the claim of theoretical orthodoxy that a firm's output was limited by its productio...

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Bibliographische Detailangaben
1. Verfasser: Keppler, Jan (VerfasserIn)
Format: Buch
Sprache:English
Veröffentlicht: Baltimore u.a. Johns Hopkins Univ. Press 1994
Schlagworte:
Zusammenfassung:In the 1920s, when the world economy began to show signs of crisis, a number of leading economists questioned the ability of a free-market economy to ensure automatic stability. They were also dissatisfied with the claim of theoretical orthodoxy that a firm's output was limited by its production costs rather than by consumer demand
Economists such as Piero Sraffa, Joan Robinson, and Edward Chamberlin thus began to develop monopolistic competition theory in order to raise theory's empirical relevance as well as its analytical sharpness
Economist Jan Keppler traces the development of monopolistic competition theory within the context of the political, economic, and historical developments of its time. With its combination of theoretical progress, intuitive realism, and the ability to address the pressing problems of economic instability and unemployment, monopolistic competition theory became the generally accepted foundation of microeconomic reasoning in the 1930s
Beschreibung:X, 220 S.
ISBN:080184813X

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