Celebrating humanity's flourishing through the spread of capitalism and the rule of law
22 Jun 2014 Leave a comment
in entrepreneurship, industrial organisation Tags: blackboard economics, competition is process, meaning of competition, monopoly, Paul J McNulty, perfect competition, Schumpeter, the market process
As it is, it is one of the great paradoxes of economic science that every act of competition on the part of a businessman is evidence, in economic theory, of some degree of monopoly power, while the concepts of monopoly and perfect competition have this important common feature: both are situations in which the possibility of any competitive behaviour has been ruled out by definition
Paul J McNulty, Economic Theory and the Meaning of Competition
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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