Perfect Competition and the Transformation of Economics

by Frank Machovec

Overview

Frank Machovec argues that the assumption of perfect information has done untold economic damage. It has provided the rationale for active state intervention and has obscured the extent to which entrepreneurial activity depends upon the exploitation of asymmetric information.

Product Details

ISBN-13:	9781134820221
Publisher:	Taylor & Francis
Publication date:	05/04/1995
Series:	Routledge Foundations of the Market Economy
Sold by:	Barnes & Noble
Format:	eBook
Pages:	408
File size:	643 KB

About the Author

Frank Machovec

Table of Contents

List of figures, Preface, 1 INTRODUCTION AND OVERVIEW, 2 STATEMENT OF THE PROBLEM, 3 THE MAGNETIC LURE OF MARKET SOCIALISM, 4 COMPETITION AND ENTREPRENEURSHIP IN CLASSICAL POLITICAL ECONOMY, 5 UNCERTAINTY AND ENTREPRENEURSHIP IN CLASSICAL POLITICAL ECONOMY, 6 THE PERFECTLY COMPETITIVE MODEL: EVOLUTION OR REVOLUTION?, 7 COMPETITION AND THE LAW, 8 EVOLUTION VERSUS REVOLUTION: THE CONVENTIONAL WISDOM, 9 ALFRED MARSHALL, INCREASING RETURNS, AND COMPETITION, 10 PERFECT COMPETITION: ASCENDANCE AND IMPACT ON HABITS OF THOUGHT, 11 STYLIZED ASSESSMENT OF GAIN VERSUS PAIN, 12 SUMMARY AND CONCLUSIONS, Notes, Bibliography, Name index, Subject index