Advanced Search
MyIDEAS: Login

Retrospectives: Fixed Capital, Railroad Economics and the Critique of the Market

Contents:

Author Info

  • Michael Perelman
Registered author(s):

    Abstract

    Where average fixed costs are large compared to marginal costs, competition will drive industry into bankruptcy. During the last century, the chaos that competition created within the railroad industry caused many prominent U.S. economists to reject the market in favor of trusts, cartels, and monopolies. They created the American Economic Association to counter the prevailing laissez faire theory. Nonetheless, some, such as J. B. Clark, still wrote in favor of abstract laissez to counter socialist and populist agitation.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.8.3.189
    Download Restriction: no

    Bibliographic Info

    Article provided by American Economic Association in its journal Journal of Economic Perspectives.

    Volume (Year): 8 (1994)
    Issue (Month): 3 (Summer)
    Pages: 189-195

    as in new window
    Handle: RePEc:aea:jecper:v:8:y:1994:i:3:p:189-95

    Note: DOI: 10.1257/jep.8.3.189
    Contact details of provider:
    Email:
    Web page: http://www.aeaweb.org/jep/
    More information through EDIRC

    Order Information:
    Web: http://www.aeaweb.org/subscribe.html

    Related research

    Keywords:

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Michael Perelman, 1995. "Retrospectives: Schumpeter, David Wells, and Creative Destruction," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 189-197, Summer.
    2. Javier Campos Méndez & Juan Luis Jiménez González, 2003. "Old and new ideas in Competition Policy," Documentos de trabajo conjunto ULL-ULPGC 2003-06, Facultad de Ciencias Económicas de la ULPGC.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:aea:jecper:v:8:y:1994:i:3:p:189-95. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jane Voros) or (Michael P. Albert).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.