Perfect competition and the transformation of economics
By: Frank M. Machovec.
Series: Foundations of the market economy; Foundations of the market economy series.
Publisher: Routledge
Published: 1995
Place of publication: London; New York
Language: eng
Number of pages: 391
Subjects: Competition.; Economics -- History.
Description: The assumptions of perfect information and perfect competition have been at the heart of neo-classical economics. However, in Perfect Competition and the Transformation of Economics, Frank Machovec demonstrates that the Walrasian vision has had a detrimental impact on the definition of economics and on its policy prescriptions.

The author examines how economists came to accept an interventionist approach to domestic policy issues, and how the perfect-competition model transformed four key areas of study: industrial organization; comparative systems; the economics of development; international trade.
Notes: Includes bibliographical references (p. 342-372) and indexes.