• Sign In
  • Help
  • My Basket0
In Defense of Monopoly: How Market Power Fosters Creative Production (Hardback)
  • In Defense of Monopoly: How Market Power Fosters Creative Production (Hardback)
zoom

In Defense of Monopoly: How Market Power Fosters Creative Production (Hardback)

(author), (author)
£61.95
Hardback 376 Pages / Published: 30/03/2008
  • We can order this

Usually despatched within 3 weeks

  • This item has been added to your basket

Check Marketplace availability

This book presents a provocative defense of market dominance. ""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 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. An economy is not a board game in which players compete for a limited number of properties; nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition, but the prospect of gains beyond a normal competitive rate of return.

Publisher: The University of Michigan Press
ISBN: 9780472116157
Number of pages: 376
Weight: 581 g
Dimensions: 229 x 152 x 26 mm

You may also be interested in...

Capitalism: A Very Short Introduction
Added to basket
The Corrosion of Character
Added to basket
Totalled
Added to basket
£19.99
Paperback
Capitalism and Freedom
Added to basket
Comparing Financial Systems
Added to basket
Bad Samaritans
Added to basket
£9.99
Paperback
How the West Came to Rule
Added to basket
The Road to Serfdom
Added to basket
£10.00
Paperback
Economics for Everyone
Added to basket
The Roaring Nineties
Added to basket
The Road to Serfdom
Added to basket
£14.99
Paperback
The Mythology of Work
Added to basket

Reviews

Please sign in to write a review

Your review has been submitted successfully.