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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.
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.
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Book by McKenzie Richard B Lee Dwight R
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- EditoreUniv of Michigan Pr
- Data di pubblicazione2008
- ISBN 10 0472116150
- ISBN 13 9780472116157
- RilegaturaCopertina rigida
- Numero di pagine297
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In Defense of Monopoly: How Market Power Fosters Creative Production
Editore:
University of Michigan Press
(2008)
ISBN 10: 0472116150
ISBN 13: 9780472116157
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In Defense of Monopoly: How Market Power Fosters Creative Production
Editore:
University of Michigan Press
(2008)
ISBN 10: 0472116150
ISBN 13: 9780472116157
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Descrizione libro Hardcover. Condizione: new. New Copy. Customer Service Guaranteed. Codice articolo think0472116150
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In Defense of Monopoly (Hardcover)
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The University of Michigan Press, Ann Arbor
(2008)
ISBN 10: 0472116150
ISBN 13: 9780472116157
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Descrizione libro Hardcover. Condizione: new. Hardcover. 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. Offers an unconventional argument in favor of market monopolies. This book claims that conventional, static models exaggerate the harm done by real-world monopolies, and shows why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability. Codice articolo 9780472116157
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