Theoretical Concepts Of Economic Competition

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Theoretical Concepts Of Economic Competition

Author Info

Patrik PANEŠ

Abstract

This paper describes the main theoretical concepts of the competition, which is thought to be the fundamental social process in the economy. The protection of competition (or the competition policy) is the one of the most important parts of economic policy, because the competition ensures the freedom of choice. The theory of competition provides large number of assumptions, which were developed within the frame of various economic schools and approaches. This paper starts with the description of the history of competition policy before the coming of Adam Smith. In the middle part of the work there have been formulated basic ideological theses about economic policy. Represented are, for example, the Classics, Ordo-liberalism or Neo-austrian School. Paper is finalized by the major theses of the Harvard and Chicago school.

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Article provided by University of Economics, Prague in its journal Politická ekonomie.

Volume (Year): 2005 (2005)
Issue (Month): 6 ()
Pages: 811-825
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Handle: RePEc:prg:jnlpol:v:2005:y:2005:i:6:id:539:p:811-825

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Find related papers by JEL classification:
B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
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L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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