Welfare aspects of industrial markets

Abstract

One Theoretical and Statistical Questions in Industrial Organization.- I. Theory comes to industrial organization.- 1. Introduction.- 2. The role theory has played in industrial organization.- 3. Uncertainty and interpretation of evidence in industrial organization.- 4. Certainty through uncertainty.- 5. Coherent theory for industrial organization.- II. The dominant firm in relation to market structure.- 1. The firm and its setting.- 2. Several implications.- 3. Conclusion.- III. The ownership and control of industry.- 1. Introduction.- 2. Previous studies.- 3. A critique of the conventional view.- 4. Recent studies.- 5. Ownership and control of the 'Top 250' UK firms.- 6. The stages of corporate control.- 7. The behaviour consequences of types of control.- 8. Historical case-studies.- 9. Conclusion.- Two Stagflation and Industrial Structure.- IV. Inflation and competition.- 1. Introduction.- 2. Relating monopolization to inflation.- 3. Price rigidity and inflation.- 4. Price rigidity and competition.- 5. Price fluctuation and stability of relative prices.- 6. The phenomenon of specialization or division of labour.- 7. Specialization and risk.- 8. Ruinous competition.- 9. Price competition.- 10. Vertical integration.- 11. Price flexibility and anti-inflationary policies.- 12. Conclusion.- V. Oligopoly and inflation.- 1. Introduction.- 2. A theoretical approach.- 3. Applying the analysis to present-day reality.- VI. Stagflation problems in a workers' self-management socialist economy: the Yugoslav case.- 1. Introduction.- 2. Decisions on employment problems.- 3. Policies to promote growth and employment.- 4. Conclusion.- Three The International Economy and Industrial Organization.- VII. International trade and industrial organization: some statistical evidence.- 1. Trade structure and industrial structure in the USA.- 2. Trade and market power in the UK.- 3. Summary and conclusions.- VIII. Large industrial firms of the Atlantic community: production methods, asset finance, profitability, and growth.- 1. Introduction.- 2. The data.- 3. Statistical results.- 4. Implications.- 5. Conclusion.- IX. Import quotas and industrial performance.- 1. Some representative US import quotas.- 2. The political economy of protectionism: a case study of steel.- 3. Imports, injury and relief: the question of standards.- 4. Import quotas and industry performance.- 5. Conclusion.- X. UK industry and the world economy: a case of de-industrialization?.- 1. The phenomenon known as 'de-industrialization'.- 2. The effects of foreign competition on domestic manufacturing industry.- 3. Ways in which participation in the international economy could lead to deindustrialization.- 4. The de-industrialization of the UK economy.- 5. The nature and extent of the decline in UK manufacturing industry.- 6. Trends in the UK's price competitiveness and trading position.- 7. Implications of the above analysis.- Four Monopoly and Economies of Scale.- XI. Monopoly welfare gains and the costs of decentralization.- 1. Introduction.- 2. Literature review.- 3. Williamson's trade-off approach.- 4. The importance of economies of scale.- 5. Empirical estimates of economies of scale.- 6. The model.- 7. Numerical computations and results.- 8. Some further empirical observations.- 9. Qualifications and conclusions.- XII. Economies as an antitrust defense revisited.- 1. Operationality.- 2. Tradeoff analysis.- 3. Monopoly rent transformation.- 4. Transactional efficiencies.- 5. Public policy.- 6. Conclusions.- XIII. Economies of scale, industrial structure and efficiency: the brewing industry in nine nations.- 1. Introduction.- 2. Structure comparisons.- 3. Economies of scale.- 4. Scale economies and technical efficiency.- 5. Scale economies and competition.- 6. Summary.- XIV. Economies of scale and technological change: an international comparison of blast furnace technology.- 1. Introduction.- 2. The blast furnace process.- 3. An international comparison of the development of average practice in blast furnaces 1950-1973.- 4. Cost implications of differences in raw material input requirements.- 5. Calculation of total cost differences.- 6. Some conclusions.- Five Industrial Policies.- XV. An investigation into the effectiveness of a capital market sanction on poor performance.- 1. Introduction.- 2. Capital market discipline.- 3. Data and method of assessment.- 4. Profitability and survival ability of firms.- 5. Difficulty of recognizing survival potential in low performance firms.- 6. Examining propositions on takeover and bankruptcy.- 7. First conclusions.- 8. Implications of ownership and of firms in declining industries.- 9. Implications of this examination of poorly performing firms.- XVI. The abolition of cartels and structural change in the United Kingdom.- 1. The post-war legislation.- 2. Implementation 1948-1956.- 3. Conclusions on cartel investigations.- 4. The Restrictive Trade Practices Act, 1956.- 5. Action on agreements.- 6. The effects of abandonment.- 7. The present study.- 8. Regression results.- 9. Conclusion.- XVII. The regulation and control of public utility prices: British experience 1960-1975.- 1. Developments in normative price theory.- 2. Policy framework for the nationalized industries in Britain.- 3. Management of the economy via the nationalized industries.- 4. Conclusions.- XVIII. French antitrust legislation: an exercise in futility.- 1. Prohibited agreements.- 2. Exemptions.- 3. The Commission's recommendations.- 4. Overall appraisal of the current system and policy implications.- Index/.