Author Description

First published in 1962, this study explores the theoretical problems of price formation and price variations under oligopoly, and the long-run consequences of the spread of oligopolies on employment, investment and the national income. The revised edition extends aspects of the authors integrated microeconomic and macroeconomic analysis of market forms and price variations. A new section explicitly treats the growth of firms and evaluates empirical criticisms of the stagnation theory advanced in the first edition. The author's " Static and Dynamic Analysis" has been appended to this reprint edition."The merit of the book lies in its insistence that... for undifferentiated oligopoly, theory does not need conjectural reaction curves." — Journal of Political Economy"Its language and insights will become an integral part of economic theory and analysis." — Library Journal