ISBN 9780472116157 | 0472116150 Textbooks - "In Defense of Monopoly How Market Power Fosters Creative Production" by Richard B McKenzie Dwight R Lee Richard B McKenzie Dwight R Lee

Authors: Richard B. McKenzie - Dwight R. Lee - Richard B. McKenzie; Dwight R. Lee
ISBN 10: 0472116150
ISBN 13: 9780472116157
Release: February 4, 2008
Format: Hardcover (320 pages)
List Price: $40.00
More Details

List Price: $40.00

Tags: Business & Investing, General,

Book Description:
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.

Filter By Condition

Used
New
Rental
eBooks
International
Local Options

Search By Location

Rental Term

Show Prices

Apply Coupons
Apply Sales Tax (estimate)

Add To My Bookbag Tweet Alert Sell Donate Contact Us

In Defense of Monopoly: How Market Power Fosters Creative Production

Best Prices