Description
Perfect Competition and the Transformation of Economics is a provocative book which argues that the assumptions of perfect information and perfect competition revolutionized economics, doing untold damage to the discipline. These concepts have provided the rationale for the sort of active state intervention long warned against by the Classical economists. This phenomenon has also obscured the extent to which entrepreneurial activity, which brings long- term benefits to society, depends upon the exploitation of asymmetric information. Close attention is paid to four key areas of study--industrial organization, comparative systems, the economics of development and international trade.
Related Products
