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Author: Jamee K. Moudud
Publisher: Routledge
Published: 2012
Total Pages: 362
ISBN-13: 0415686873
DOWNLOAD EBOOK →This book takes a radically different approach to the analysis of competition by rejecting the perfect vs. imperfect competition dichotomy and draws on the insights of classical political economists such as Marx, Schumpeter, Hayek and Andrews.
Author: Anwar Shaikh
Publisher: Oxford University Press
Published: 2016-01-15
Total Pages: 896
ISBN-13: 0199390657
DOWNLOAD EBOOK →Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.
Author: Jamee K. Moudud
Publisher: Routledge
Published: 2012-10-12
Total Pages: 362
ISBN-13: 1136241159
DOWNLOAD EBOOK →The history of policymaking has been dominated by two rival assumptions about markets. Those who have advocated Keynesian-type policies have generally based their arguments on the claim that markets are imperfectly competitive. On the other hand laissez faire advocates have argued the opposite by claiming that in fact free market policies will eliminate "market imperfections" and reinvigorate perfect competition. The goal of this book is to enter into this important debate by raising critical questions about the nature of market competition. Drawing on the insights of the classical political economists, Schumpeter, Hayek, the Oxford Economists’ Research Group (OERG) and others, the authors in this book challenge this perfect versus imperfect competition dichotomy in both theoretical and empirical terms. There are important differences between the theoretical perspectives of several authors in the broad alternative theoretical tradition defined by this book; nevertheless, a unifying theme throughout this volume is that competition is conceptualized as a dynamic disequilibrium process rather than the static equilibrium state of conventional theory. For almost all the others the growth of firm is consistent with a heightened degree of competitiveness, as both Marx and Schumpeter emphasized, and not a lowered one as in the conventional 'monopoly capital' view.
Author: Shelby D. Hunt
Publisher: SAGE Publications
Published: 1999-11-30
Total Pages: 321
ISBN-13: 1452221642
DOWNLOAD EBOOK →Hunt convincingly demonstrates that competition is not about dividing up limited resources but about creating more resources and thus competition is pro-society. This truly interdisciplinary book successfully develops a general theory of competition which is rich in explanatory breadth and depth. Consequently, executives and entrepreneuers, management consultants, public makers, and scholars and students in economics, law, political science, and business should read and study this book. —Robert F. Lusch, University of Oklahoma This book develops a new theory of competition. This theory – labeled "resource-advantage theory" – stems from no single research tradition, but draws on several different traditions in economics, management, marketing, and sociology. In this ground-breaking volume, Shelby Hunt articulates R-A theory, uses the theory to explain and predict economic phenomena, and shows how (and why) it explains and predicts such phenomena.
Author: Claude d’Aspremont
Publisher: Springer Nature
Published: 2021-05-18
Total Pages: 160
ISBN-13: 303063602X
DOWNLOAD EBOOK →This book provides a methodology for the analysis of oligopolistic markets from an equilibrium viewpoint, considering competition within and between groups of firms. It proposes a well-founded measure of competitive toughness that can be used in empirically relevant applications. This measure reflects the weight put by each firm on competition for market share relative to competition for market size – two dimensions of competition involving conflicting and convergent interests, respectively. It further explores several applications, such as the effect of tougher competition on innovation and of output market power on the emergence of involuntary unemployment, as well as the importance of strategic interactions for investment decisions. Relative to the dominant model of monopolistic competition, The Economics of Competition, Collusion and In-between aims to explore an alternative tractable model of firm competition opening the application of oligopoly theory to many fields in economics where general equilibrium features are crucial. It will be relevant to those interested in applied industrial organization, trade, macroeconomics (in particular macrodynamics) and quantitative economics.
Author: Terry Burke
Publisher: Routledge
Published: 2018-01-09
Total Pages: 264
ISBN-13: 1351333704
DOWNLOAD EBOOK →What is the role of competition in economic activity? How can it be understood? How can it be regulated? Competition is a buzz word in economic policy and in commerce. Yet it is given widely varying roles in different models and is viewed in very different ways by different schools. This book, published in 1991, provides a clear exposition of the major theoretical approaches to competition and an assessment of competition policy in the major economic powers.
Author: Edward Hastings Chamberlin
Publisher:
Published: 1969
Total Pages:
ISBN-13:
DOWNLOAD EBOOK →Author: James F. Adams
Publisher: Cambridge University Press
Published: 2005-03-21
Total Pages: 344
ISBN-13: 9781139444002
DOWNLOAD EBOOK →This book integrates spatial and behavioral perspectives - in a word, those of the Rochester and Michigan schools - into a unified theory of voter choice and party strategy. The theory encompasses both policy and non-policy factors, effects of turnout, voter discounting of party promises, expectations of coalition governments, and party motivations based on policy as well as office. Optimal (Nash equilibrium) strategies are determined for alternative models for presidential elections in the US and France, and for parliamentary elections in Britain and Norway. These polities cover a wide range of electoral rules, number of major parties, and governmental structures. The analyses suggest that the more competitive parties generally take policy positions that come close to maximizing their electoral support, and that these vote-maximizing positions correlate strongly with the mean policy positions of their supporters.
Author: Lefteris Tsoulfidis
Publisher: Springer Nature
Published: 2019-09-05
Total Pages: 465
ISBN-13: 3030179672
DOWNLOAD EBOOK →This book promotes an in-depth understanding of the key mechanisms that govern the functioning of capitalist economies, pursuing a Classical Political Economics approach to do so. It explores central theoretical issues addressed by the classical economists Smith and Ricardo, as well as Marx, while also operationalizing more recent theoretical developments inspired by the works of Sraffa and other modern classical economists, using actual data from major economies. On the basis of this approach, the book subsequently provides alternative explanations for various microeconomic issues such as the determination of equilibrium prices and their movement induced by changes in income distribution; the dynamics of competition of firms within and between industries; the law of tendential equalization of interindustry profit rates; and international exchanges and transfers of value; as well as macroeconomic issues concerning capital accumulation and cyclical economic growth. Given its scope, the book will benefit all researchers, students, and policymakers seeking new explanations for observed phenomena and interested in the mechanisms that give rise to surface economic categories, such as prices, profits, the unemployment rate, interest rates, and long economic cycles.
