Market Structures

David Reisman

Chapter 6 in The Economics of Alfred Marshall, 1986, pp 124-151 from Palgrave Macmillan

Abstract: Abstract Alfred Marshall was keenly interested in industrial organisation and made a distinction between what we would today call perfect and imperfect competition. His distinction, as was his custom, was not a clear distinction, and no less important a later Marshallian than Paul Samuelson has taken him to task for shunting the car of microeconomic theory on to a wrong line: The ambiguities of Alfred Marshall paralyzed the best brains in the Anglo-Saxon branch of our profession for three decades … Because of his unwillingness to make sharp distinctions between perfect and less-than-perfect competition, Marshall managed to set back the clock both on competitive theory and on the theory of monopoly … Marshall was so afraid of being unrealistic that he merely ends up being fuzzy and confusing — and confused.1

Keywords: Market Structure; Demand Curve; Imperfect Competition; Marginal Revenue; Special Market (search for similar items in EconPapers)
Date: 1986
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DOI: 10.1007/978-1-349-08515-6_6

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