Increasing returns and economic efficiency
Author(s)
Bibliographic Information
Increasing returns and economic efficiency
Palgrave Macmillan, 2009
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Note
Includes bibliographical references (p. 182-194) and index
Description and Table of Contents
Description
Recognizing increasing returns disrupts much of the established wisdom in economic analysis, making money non-neutral, equity conflict with freedom, and encouraging goods with increasing returns efficient. This book discusses these problems and ways they can be handled, helping to explain phenomena in the real world.
Table of Contents
Introduction Devastating Implications of Increasing Returns on Some Traditional Conclusions Equity and Efficiency vs. Freedom and Fairness: An Inherent Conflict Existence of Average-Cost Pricing Equilibria with Increasing Returns The Efficiency of Encouraging Goods with High Degrees of Increasing Returns Division of Labour: Increasing Returns at the Economy Level The Smith Dilemma and Its Resolution Why Should Governments Encourage Improvements on Infrastructure? Indirect Network Externality of Transaction Efficiency Average-cost Pricing, Increasing Returns, and Optimal Output: Comparing Home and Market Production Do the Economies of Specialization Justify the Work Ethics? An Examination of Buchanan's Hypothesis Specialization, Trade and Growth Conceptual and Policy Implications: Concluding Discussion
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