Economics Dictionary of ArgumentsHome
| |||
|
| |||
| Costs: In economics, costs represent the resources or sacrifices incurred to produce goods or services. These include explicit costs (direct expenses like wages, materials) and implicit costs (opportunity costs, such as foregone alternatives). Costs influence production decisions, pricing strategies, and overall economic efficiency, essential in assessing profitability and resource allocation._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Concept | Summary/Quotes | Sources |
|---|---|---|---|
|
John Maurice Clark on Costs - Dictionary of Arguments
Rothbard III 729 Costs/competition/comparability/J.M. Clark/Rothbard: A (…) major line of attack [on monopolistic competition theory] has shown that the comparisons are much less important than they seem from conventional diagrams, because cost curves are empirically much flatter than they appear in the text- books. Long-run dmand curves: Clark has emphasized that firms deal in long-run considerations, and that long-run cost and demand curves are both more elastic than short-run; (…) >Elasticity. Clark and others have stressed the vital importance of potential competition to any would-be reaper of monopoly price, from firms both within and without the industry, and also the competition of substitutes between industries. A further argument has been that the cost curves, empirically, are flat within the relevant range, even aside from the long- vs. short-run problems.(1) >Monopolies, >Monopoly price, >Monopolistic competition. 1. See J.M. Clark, "Competition and the Objectives of Government Policy" in E.H. Chamberlin, ed., Monopoly and Competition and Their Regulation (London: Macmillan & Co., 1954), pp. 3 17-2 7; Clark, "Toward a Concept of Workable Competition" in Readings in the Social Control of Industry (Philadelphia: Blakiston, 1942), pp. 452-76; Clark, "Discussion"; Abbott, Quality and Competition, passim; Joseph A. Schumpeter, Capitalism, Socialism and Democracy (New York: Harper & Bros., 1942); Hayek, "Meaning of Competition"; Lachmann, "Some Notes on Economic Thought, 1933-53." Richard B. Heflebower, "Toward a Theory of Industrial Markets and Prices" in R.B. Heflebower and G.W. Stocking, eds., Readings on Industrial Organization and Public Policy (HomeWood, 111.: Richard D. Irwin, 19 5 8), pp. 29 7-315. A more dubious argument - the flatness of the firm's demand curve in the relevant range - has been stressed by other economists, notably A.J. Nichol, "The Influence of Marginal Buyers on Monopolistic Competition," Quarterly Journal ofEconomics, November, 1934, pp. 121-34; Alfred Nicols, "The Rehabilitation of Pure Competition," Quarterly Journal of Economics, November, 1947 , pp. 31-63; and Nutter, "Plateau Demand Curve and Utility Theory."_____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Clark I John Bates Clark Essentials of Economic Theory by John Bates Clark: Foundational Concepts in Economics Made Accessible (English Edition) New Delhi 2029 Clark I John Maurice Clark Alternative to serfdom: Five lectures delivered ... at the University of Michigan, March 1947 New York 1948 Rothbard II Murray N. Rothbard Classical Economics. An Austrian Perspective on the History of Economic Thought. Cheltenham, UK: Edward Elgar Publishing. Cheltenham 1995 Rothbard III Murray N. Rothbard Man, Economy and State with Power and Market. Study Edition Auburn, Alabama 1962, 1970, 2009 Rothbard IV Murray N. Rothbard The Essential von Mises Auburn, Alabama 1988 Rothbard V Murray N. Rothbard Power and Market: Government and the Economy Kansas City 1977 |
||
Authors A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Concepts A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
