Monopoly and Rigidities in the Economic System

Siro Lombardini
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Siro Lombardini: Catholic University

A chapter in Monopoly and Competition and their Regulation, 1954, pp 398-420 from Palgrave Macmillan

Abstract: Abstract Professor Machlup has dealt with the problem of whether monopoly can increase the stability of the system. This paper will discuss whether monopolies create rigidities in the economic system. Increasing stability means damping and, possibly, ruling out abnormal movements; therefore it is a positive achievement from the point of view of the efficiency of the system. On the other hand, to create rigidities means to hinder the normal development of the system; therefore the degree of rigidity of an economic system has negative implications as regards its efficiency.

Keywords: Demand Curve; Cost Curve; Marginal Revenue; Close Substitute; Potential Entrepreneur (search for similar items in EconPapers)
Date: 1954
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-08434-0_21

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DOI: 10.1007/978-1-349-08434-0_21

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