| Description |
1 online resource (xxi, 297 pages) : illustrations. |
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text txt rdacontent |
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computer c rdamedia |
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online resource cr rdacarrier |
| Bibliography |
Includes bibliographical references (pages 273-288) and index. |
| 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. |
| 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. |
| Note |
Description based on print version record. |
| Access |
Use copy Restrictions unspecified star MiAaHDL |
| Reproduction |
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. MiAaHDL |
| System Details |
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. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
| Note |
This work is licensed under a Creative Commons license https://creativecommons.org/licenses/by-nc-nd/4.0/legalcode |
| Processing Action |
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Access |
Open Access EbpS |
| Subject |
Monopolies.
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Production (Economic theory)
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Monopoles.
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Production.
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monopolies.
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Monopolies.
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Business & Economics / Economics / Theory.
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Monopolies
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Production (Economic theory)
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Monopoles.
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Production.
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| Indexed Term |
Economics |
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political economy |
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market monopoly |
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public policy |
| Added Author |
Lee, Dwight R., author.
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| In: |
Books at JSTOR: Open Access JSTOR |
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OAPEN (Open Access Publishing in European Networks) OAPEN |
| Other Form: |
Print version: McKenzie, Richard B. In defense of monopoly. Ann Arbor : University of Michigan Press, ©2008 9780472116157 (DLC) 2007035404 (OCoLC)141383126 |
| ISBN |
9780472126286 ebook |
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0472126288 ebook |
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9780472901142 (electronic bk.) |
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0472901141 (electronic bk.) |
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9780472116157 (cloth ; alk. paper) |
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0472116150 (cloth ; alk. paper) |
| Standard No. |
10.3998/mpub.93419 |
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AU@ 000065196915 |
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AU@ 000065259702 |
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CHNEW 001057406 |
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CHVBK 569637740 |
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AU@ 000068162427 |
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AU@ 000069156956 |
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AU@ 000066058308 |
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AU@ 000075749660 |
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