In defense of monopoly: how market power fosters creative production
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...
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| Main Authors: | , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Ann Arbor
University of Michigan Press
[2008]
|
| Subjects: | |
| Online Access: | Volltext |
| Summary: | 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 |
| Physical Description: | 1 Online-Ressource (xxi, 297 Seiten) illustrations |
| Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002 |
| ISBN: | 0472126288 0472901141 9780472126286 9780472901142 |
| Access: | Open Access |
Staff View
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| 505 | 8 | |a "The wretched spirit of monopoly" -- Deadweight-loss monopoly -- Monopoly as a coordination problem -- Welfare-enhancing monopolies -- Locked-in consumers -- Monopoly prices and the client and bonding effects -- The monopsony problem -- The NCAA: a case study of the misuse of the monopsony and monopoly models -- Monopoly as entrepreneurship -- Property and monopoly -- Summing up | |
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| 520 | 3 | |a 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 | |
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Record in the Search Index
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| author | McKenzie, Richard B. Lee, Dwight R. |
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| contents | "The wretched spirit of monopoly" -- Deadweight-loss monopoly -- Monopoly as a coordination problem -- Welfare-enhancing monopolies -- Locked-in consumers -- Monopoly prices and the client and bonding effects -- The monopsony problem -- The NCAA: a case study of the misuse of the monopsony and monopoly models -- Monopoly as entrepreneurship -- Property and monopoly -- Summing up |
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| id | DE-604.BV048281124 |
| illustrated | Illustrated |
| index_date | 2024-07-03T20:00:55Z |
| indexdate | 2024-07-10T09:34:04Z |
| institution | BVB |
| isbn | 0472126288 0472901141 9780472126286 9780472901142 |
| language | English |
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| physical | 1 Online-Ressource (xxi, 297 Seiten) illustrations |
| psigel | ZDB-4-EOAC |
| publishDate | 2008 |
| publishDateSearch | 2008 |
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| publisher | University of Michigan Press |
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| spelling | McKenzie, Richard B. Verfasser aut In defense of monopoly how market power fosters creative production Richard B. McKenzie and Dwight R. Lee Ann Arbor University of Michigan Press [2008] ©2008 1 Online-Ressource (xxi, 297 Seiten) illustrations txt rdacontent c rdamedia cr rdacarrier "The wretched spirit of monopoly" -- Deadweight-loss monopoly -- Monopoly as a coordination problem -- Welfare-enhancing monopolies -- Locked-in consumers -- Monopoly prices and the client and bonding effects -- The monopsony problem -- The NCAA: a case study of the misuse of the monopsony and monopoly models -- Monopoly as entrepreneurship -- Property and monopoly -- Summing up Open Access EbpS 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 Electronic reproduction [Place of publication not identified] HathiTrust Digital Library 2010 MiAaHDL Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002 digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Monopoles Production Business & Economics / Economics / Theory monopolies Monopolies Production (Economic theory) Produktionstheorie (DE-588)4121520-5 gnd rswk-swf Monopoltheorie (DE-588)4279211-3 gnd rswk-swf Economics market monopoly political economy public policy Electronic books Monopoltheorie (DE-588)4279211-3 s Produktionstheorie (DE-588)4121520-5 s DE-604 Lee, Dwight R. author oth Erscheint auch als Druck-Ausgabe McKenzie, Richard B. In defense of monopoly Ann Arbor : University of Michigan Press, ©2008 9780472116157 https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=2149359 Verlag kostenfrei Volltext This work is licensed under a Creative Commons license https://creativecommons.org/licenses/by-nc-nd/4.0/legalcode |
| spellingShingle | McKenzie, Richard B. Lee, Dwight R. In defense of monopoly how market power fosters creative production "The wretched spirit of monopoly" -- Deadweight-loss monopoly -- Monopoly as a coordination problem -- Welfare-enhancing monopolies -- Locked-in consumers -- Monopoly prices and the client and bonding effects -- The monopsony problem -- The NCAA: a case study of the misuse of the monopsony and monopoly models -- Monopoly as entrepreneurship -- Property and monopoly -- Summing up Monopoles Production Business & Economics / Economics / Theory monopolies Monopolies Production (Economic theory) Produktionstheorie (DE-588)4121520-5 gnd Monopoltheorie (DE-588)4279211-3 gnd |
| subject_GND | (DE-588)4121520-5 (DE-588)4279211-3 |
| title | In defense of monopoly how market power fosters creative production |
| title_auth | In defense of monopoly how market power fosters creative production |
| title_exact_search | In defense of monopoly how market power fosters creative production |
| title_exact_search_txtP | In defense of monopoly how market power fosters creative production |
| title_full | In defense of monopoly how market power fosters creative production Richard B. McKenzie and Dwight R. Lee |
| title_fullStr | In defense of monopoly how market power fosters creative production Richard B. McKenzie and Dwight R. Lee |
| title_full_unstemmed | In defense of monopoly how market power fosters creative production Richard B. McKenzie and Dwight R. Lee |
| title_short | In defense of monopoly |
| title_sort | in defense of monopoly how market power fosters creative production |
| title_sub | how market power fosters creative production |
| topic | Monopoles Production Business & Economics / Economics / Theory monopolies Monopolies Production (Economic theory) Produktionstheorie (DE-588)4121520-5 gnd Monopoltheorie (DE-588)4279211-3 gnd |
| topic_facet | Monopoles Production Business & Economics / Economics / Theory monopolies Monopolies Production (Economic theory) Produktionstheorie Monopoltheorie |
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