Frank Machovec argues that the assumption of perfect information has done untold economic damage. It has provided the rationale for active state intervention and has obscured the extent to which entrepreneurial activity depends upon the exploitation of asymmetric information.
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Editorial Reviews
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The time is ripe for a book such as this.... the author refreshingly uses the theoretical arguments in support of his hypothesis..
–Choice
Perfect Competition ... is a valuable and worthwhile contribution to understanding the history of economic thought and will be enjoyed for its informed insight and trenchant analysis.
–Review of Austrian Economics
–Choice
Perfect Competition ... is a valuable and worthwhile contribution to understanding the history of economic thought and will be enjoyed for its informed insight and trenchant analysis.
–Review of Austrian Economics
About the Author
Frank M. Machovec is Associate Professor of Economics at Wofford College, South Carolina.
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Inside This Book
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First Sentence:
The mainstream's historical perspective on competition and entrepreneurship has been based on its belief that the perfectly competitive model was the product of incremental intellectual maturation of a long-standing equilibrium vision of the market. Read the first page Key Phrases - Capitalized Phrases (CAPs): (learn more)
Adam Smith, Supreme Court, United States, Sherman Act, Alfred Marshall, Third World, Joan Robinson, Nobel Prize, Scottish Enlightenment, Eastern Europe, Federal Trade Commission, Public Choice School, World War, Frank Knight, John Stuart Mill, Old Guard, Oskar Lange, Artificial Intelligence, British School, Clayton Act, Cournot's Researches, Frank Hahn, Jeremy Bentham, Penny Cyclopedia, Quarterly Journal of Economics New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
The mainstream's historical perspective on competition and entrepreneurship has been based on its belief that the perfectly competitive model was the product of incremental intellectual maturation of a long-standing equilibrium vision of the market. Read the first page Key Phrases - Capitalized Phrases (CAPs): (learn more)
Adam Smith, Supreme Court, United States, Sherman Act, Alfred Marshall, Third World, Joan Robinson, Nobel Prize, Scottish Enlightenment, Eastern Europe, Federal Trade Commission, Public Choice School, World War, Frank Knight, John Stuart Mill, Old Guard, Oskar Lange, Artificial Intelligence, British School, Clayton Act, Cournot's Researches, Frank Hahn, Jeremy Bentham, Penny Cyclopedia, Quarterly Journal of Economics New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
Citations (learn more)
This book cites 100
books:
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14
books
cite this book:
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- Industry and Trade (Volume One) by Alfred Marshall on 5 pages
- Adam Smith (Pioneers in Economics) by Mark Blaug on 5 pages
- Economic Development (9th Edition) by Michael P. Todaro on 4 pages
- Economic Development (Economics Today S.) by Gareth Rees in Back Matter (1), Back Matter (2), and Back Matter (3)
- The Constitution of Liberty by F. A. Hayek in Back Matter (1), Back Matter (2), and Back Matter (3)
See all 100 books this book cites
- The Driving Force of the Market: Essays in Austrian Economics (Routledge Foundations of the Market Economy) by Israel M Kirzner in Front Matter, page 37, and page 221
- An Entrepreneurial Theory of the Firm (Routledge Foundations of the Market Economy) by Frédéric Sautet in Front Matter, and Back Matter
- Calculation and Coordination: Essays on Socialism and Transitional Political Economy (Routledge Foundations of the Market Economy) by Peter J Boettke in Front Matter, and page 64
- Microfoundations and Macroeconomics: An Austrian Perspective (Routledge Foundations of the Market Economy) by Steven Horwitz in Front Matter, and Back Matter
- Piero Sraffa's Political Economy: A Centenary Estimate (Routledge Studies in the History of Economics) by Terenzio Cozzi in Back Matter
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