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The Economics of the Counter-Reformation: Incumbent-Firm Reaction to Market Entry

Author

Listed:
  • Robert B. Ekelund
  • Robert F. Hebert
  • Robert D. Tollison

Abstract

The Catholic Church reacted to the Protestant Reformation by taking on the defensive posture of an incumbent-firm monopoly fighting to survive in the face of new competition. Contemporary firms typically respond to rival entry by rewriting their corporate charter. So did the medieval Catholic Church. But the Council of Trent failed as a reorganization plan because to keep economic rents flowing as before, it left intact the distribution of powers and property rights among the governing body of pope and cardinals--thus demonstrating that entrenched economic interests are powerful inducements to behavior, even in spiritual institutions. (JEL N00, D2, D4, D72, P16) Copyright 2004, Oxford University Press.

Suggested Citation

  • Robert B. Ekelund & Robert F. Hebert & Robert D. Tollison, 2004. "The Economics of the Counter-Reformation: Incumbent-Firm Reaction to Market Entry," Economic Inquiry, Western Economic Association International, vol. 42(4), pages 690-705, October.
    • Handle: RePEc:oup:ecinqu:v:42:y:2004:i:4:p:690-705
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    Citations

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    Cited by:

    1. Janine Höhener & Christoph A. Schaltegger, 2012. "Religionsökonomie: eine Übersicht," CREMA Working Paper Series 2012-08, Center for Research in Economics, Management and the Arts (CREMA).
    2. Robert Ekelund & Robert Hébert, 2010. "Interest groups, public choice and the economics of religion," Public Choice, Springer, vol. 142(3), pages 429-436, March.
    3. Becker, Sascha O. & Pfaff, Steven & Rubin, Jared, 2016. "Causes and consequences of the Protestant Reformation," Explorations in Economic History, Elsevier, vol. 62(C), pages 1-25.
    4. Mario Ferrero, 2014. "Competition between Judaism and Christianity: Paul's Galatians as Entry Deterrence," Kyklos, Wiley Blackwell, vol. 67(2), pages 204-226, May.
    5. Ralph Hippe & Roger Fouquet, 2024. "The Human Capital Transition and the Role of Policy," Springer Books, in: Claude Diebolt & Michael Haupert (ed.), Handbook of Cliometrics, edition 3, pages 411-457, Springer.
    6. Fabio Blasutto & David de la Croix, 2023. "Catholic Censorship and the Demise of Knowledge Production in Early Modern Italy," The Economic Journal, Royal Economic Society, vol. 133(656), pages 2899-2924.
    7. Mario Ferrero, 2014. "Competition Between Exclusive Religions: The Counter-Reformation As Entry Deterrence," Scottish Journal of Political Economy, Scottish Economic Society, vol. 61(3), pages 280-303, July.
    8. Peter T. Leeson & Jacob W. Russ, 2018. "Witch Trials," Economic Journal, Royal Economic Society, vol. 128(613), pages 2066-2105, August.

    More about this item

    JEL classification:

    • N00 - Economic History - - General - - - General
    • D2 - Microeconomics - - Production and Organizations
    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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