Adam Smith on Monopoly Theory. Making good a lacuna

Rodolfo Signorino, Neri Salvadori

Risultato della ricerca: Article

4 Citazioni (Scopus)

Abstract

This article analyses Adam Smith’s views on monopoly by focusing on Book IVand V of The Wealth of Nations. It argues that the majority of scholars haveassessed Smith’s analysis of monopoly starting from premises different fromthose, actually though implicitly, used by Smith. We show that Smith makes useof the word ‘monopoly’ to refer to a heterogeneous collection of market outcomes,besides that of a single seller market, and that Smith’s account ofmonopolists’ behaviour is richer than that provided by later theorists. We alsoshow that Smith was aware of the growth-retarding effect of monopoly andurged State regulation
Lingua originaleEnglish
pagine (da-a)178-195
Numero di pagine18
RivistaScottish Journal of Political Economy
Volume61
Stato di pubblicazionePublished - 2014

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All Science Journal Classification (ASJC) codes

  • Sociology and Political Science
  • Economics and Econometrics

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