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Perfect competition according to Enrico Barone

Author

Listed:
  • Manuela Mosca
  • Michael E. Bradley

Abstract

The Italian economist Enrico Barone (1859- 1924) is best known for his contributions to marginal productivity theory and the socialist planning debate. This paper analyzes Barone’s contributions to the theory of perfect competition which are largely ignored in the secondary literature. It includes his methodology; the definition, conditions and outcomes of perfect competition; the institutional context of perfect competition; and the adjustment process. It also includes some of Barone’s graphs that illustrate the working of perfect competition. The paper demonstrates that Barone deserves a place in the history of the theory of perfect competition.

Suggested Citation

  • Manuela Mosca & Michael E. Bradley, 2013. "Perfect competition according to Enrico Barone," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, issue 64, pages 9-44.
    • Handle: RePEc:cpo:journl:y:2013:i:64:p:9-44
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    More about this item

    Keywords

    Enrico Barone; history of economics; Italian marginalism; perfect competition; general equilibrium;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

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