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(ROBBINS, Lionel.) CHAMBERLIN, Edward.

The Theory of Monopolistic Competition.

Cambridge, MA, Harvard University Press, 1933 Stock Code: 140555
£450.00

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Notes

First edition, first printing, the copy of the British economist Lionel Robbins, with his ownership signature to the front free endpaper, together with a few pencilled comments in the margins. Robbins, along with Keynes, was the leading British economist during the inter-war period; at the London School of Economics, he "dominated the economics department for thirty years and built it up to its pre-eminent position in British economics" (ODNB). Chamberlin (1899-1967) was a Harvard microeconomist who studied the relationship between competition and price and coined the term "product differentiation" to explain how producers could use targeted branding to charge more for certain products than a perfect market would predict. In this volume, a foundational work in the theory of imperfect competition, he lays out his theory of monopoly, arguing that monopoly and competition are not at odds, but that most markets operate with the two forces in equilibrium. Robbins cited this work in his autobiography as "groundbreaking" (Robbins, Autobiography of an Economist, p. 120).

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Description

Octavo. Original red cloth, titles to spine in gilt, crest to front cover in blind.

Condition

Spine sunned, slight rubbed. A very good copy.

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