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Monopoly and Rigidities in the Economic System

In: Monopoly and Competition and their Regulation

Author

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  • Siro Lombardini

    (Catholic University)

Abstract

Professor Machlup has dealt with the problem of whether monopoly can increase the stability of the system. This paper will discuss whether monopolies create rigidities in the economic system. Increasing stability means damping and, possibly, ruling out abnormal movements; therefore it is a positive achievement from the point of view of the efficiency of the system. On the other hand, to create rigidities means to hinder the normal development of the system; therefore the degree of rigidity of an economic system has negative implications as regards its efficiency.

Suggested Citation

  • Siro Lombardini, 1954. "Monopoly and Rigidities in the Economic System," International Economic Association Series, in: Edward H. Chamberlin (ed.), Monopoly and Competition and their Regulation, pages 398-420, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-08434-0_21
    DOI: 10.1007/978-1-349-08434-0_21
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