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About this product
- DescriptionFamous Fables of Ecomics critiques some of our most cherished stories of market failure. Ecomists have used these colorful myths to justify a wide range of public policy interventions in the ecomy: public provision of goods and services, ecomic regulation of industry and antitrust actions against major corporations. Despite their blatant factual inaccuracies, the appeal of these fables to ecomic, law, and management academics continues undiminished - the fables are persistently repeated in countless classrooms, textbooks, and academic seminars. Among the fables critiqued here are the lighthouse, the keyboard, the bees and the orchard, General Motors' acquisition of Fisher Body, the Liberty Ships and the learning curve, predatory pricing and tulip mania. This provocative book explores the mythical nature of some of ecomists' favorite stories and raises fundamental questions about the role of the government in society. It provides an intriguing look at ecomic thought that is accessible to general readers, students, professionals, and academics. These articles suggest that ecomic analysis of market efficiency should rely on systematic study of institutions and transaction costs rather than on casual anecdotes.
- Author BiographyDaniel F. Spulber is the Elinor Hobbs Distinguished Professor of International Business and Professor of Management Strategy at the Kellogg Graduate School of Management, Northwestern University, where he has taught since 1990. Spulber is also Professor of Law at the Northwestern University Law School.
- PublisherJohn Wiley and Sons Ltd
- Date of Publication24/08/2001
- SubjectEconomics: Professional & General
- Place of PublicationOxford
- Country of PublicationUnited Kingdom
- ImprintBlackwell Publishers
- Content Note18
- Weight546 g
- Width171 mm
- Height245 mm
- Spine23 mm
- Edited byDaniel Spulber
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