Alternative theories of competition : challenges to the orthodoxy

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Title:

Alternative theories of competition : challenges to the orthodoxy

Author:

Moudud, Jamee K.

ISBN:

9780415686877

9780203102671

Publication Information:

Abingdon, Oxon : Routledge, 2013.

Physical Description:

xxi, 334 s. : ill. ; 24 cm.

Series:

Routledge advances in heterodox economics ; 14

General Note:

Includes bibliographical references and index.

Contents:

Foreward / John Weeds -- Introduction -- The fallacy of competition : markets and the movement of capital / John Weeks -- The hidden history of competition and its implications / Jamee K. Moudud -- Synthetic competition, global oil, and the cult of monopoly / Cyrus Bina -- Catallactic competition, business organization, and market order / Jack High -- Schumpeterian competition / J. Stanley Metcalfe -- The theory of innovative enterprise : methodology, ideology, and institutions / William Lazonick -- Competition, going enterprise, and economic activity / Frederic S. Lee -- Sraffa, the general rate of profit, and the theory of the firm : a conjectural approach / Scott Carter and Andrés Lazzarini -- Explaining long term exchange rate behavior in the United States and Japan / Anwar Shaikh and Rania Antonopoulos -- Components of differential profitability in a classical/Marxian theory of competition : a case study of Turkish manufacturing / Serdal Bahçe and Benan Eres -- Classical competition and regulating capital : theory and empirical evidence / Lefteris Tsoulfidis and Persefoni Tsaliki -- Are mega-corps competitive? : some empirical tests of business competition / John Sarich and Jason Hecht.

Abstract:

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....

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Library	Material Type	Item Barcode	Shelf Number	Copy	Status
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Summary

The goal of this book is to enter into this important debate by raising critical questions about the nature of market competition in both the neoclassical and Kaleckian traditions

By 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 many of the authors the growth of the firm is consistent with a heightened degree of competitiveness, as the classical economists and Schumpeter emphasized, and not a lowered one as in the conventional 'monopoly capital' and imperfect competition perspectives.

Contributions by Rania Antonopoulos, Serdal Bahçe, Cyrus Bina, Scott Carter, Benan Eres, Jason Hecht, Jack High, William Lazonick, Andreìs Lazzarini, Fred S. Lee, J. Stanley Metcalfe, Jamee Moudud, John Sarich, Anwar Shaikh, Persefoni Tsaliki, Lefteris Tsoulfidis, and John Weeks.