Competition, Cartels and Their Regulation

By John Perry Miller | Go to book overview

NOTES
2. The author is indebted to Professors Arthur Beacham, S. R. Dennison and Mr. J. B. Heath who have read and commented on this article, and to Mrs. D. J. Wilson who has checked the references. For any errors that remain he alone is responsible.
3. JOSEPH SCHUMPETER, Capitalism, Socialism and Democracy, London: George Allen & Unwin, ch. 7.
4. Sir HENRY CLAY, "The Campaign against Monopoly and Restrictive Practices," Lloyds Bank Review, April, 1952.
5. LOUIS B. SCHWARTZ, Free Enterprise and Economic Organization: Legal and Related Matters, New York: Foundation Press, 1952, pp. 391 et seq.
6. Report on the Supply and Export of Certain Semi-Manufactures of Copper and Copper- based Alloys, H.M.S.O., 1955, p. 97.
7. What follows is largely a summary of the points made in my article, "The Inadequacy of the Theory of the Firm as a Branch of Welfare Economics," Oxford Economic Papers, vol. 4, February, 1952, pp. 18-45.
8. Cf. R. B. TENNANT, The American Cigarette Industry, New Haven: Yale, 1950; T. WILSON, "The Electronics Industry" in The Structure of British Industry, ed. by Duncan Burn, Cambridge: Cambridge University Press, 1958, vol. 2, p. 151.
9. Both lines of argument are to be found in the pioneering article by R. L. HALL and C. J. HITCH, "Price Theory and Business Behaviour," Oxford Economic Papers, May, 1939, pp. 12-46; the article is reprinted in Oxford Studies in the Price Mechanism, edited by T. Wilson and P. W. S. Andrews, Oxford: Clarendon Press, 1951.
10. This is, I think, the gist of the theory of the "right price" as developed in Britain by P. W. S. ANDREWS--who is often wrongly described as an exponent of full- cost pricing. See his Manufacturing Business, London: Macmillan, 1949, "Industrial Analysis in Economics," in Oxford Studies in the Price Mechanism, and "Competition in the Modern Economy" in Competitive Aspects of Oil Operations, London: The Institute of Petroleum, 1958, edited by George Sell. See, too, the survey by ELIZABETH BRUNNER , "Competition and the Theory of the Firm," Economica Internationale, vol. 10, August, 1952, pp. 509-27.
11. Cf. R. F. HARROD, "Imperfect Competition Revisited," Economic Essays, London: Harcourt Brace, 1952.
12. Report on the Process of Calico-Printing, H.M.S.O., 1954, p. 71.
13. Cf. DONALD DEWEY, Monopoly in Economics and Law, New York: Rand McNally Company, 1959, ch. 8.
14. Report on the Supply and Export of Certain Semi-Manufactures of Copper and Copper-based Alloys, H.M.S.O., July, 1955, para. 305.
15. Report on the Supply of Cast-Iron Rainwater Goods, H.M.S.O., 1951, and Report on the Process of Calico-Printing, H.M.S.O., 1954, paras. 72-78 and ch. 6.
16. Report on the Supply of Linoleum, H.M.S.O., 1956, ch. 12 and para. 192.
17. Report on the Supply of Standard Metal Windows and Doors, H.M.S.O., 1956, ch. 7.
18. Report on the Supply and Export of Pneumatic Tyres, H.M.S.O., 1955, ch. 11.
19. Restrictive Practices Court, Reports of Restrictive Practices Cases, London: The Incorporated Council of Law Reporting for England and Wales, March, 1960, vol. 1, part 6, pp. 348 and 373et seq. (These law reports will be referred to hereafter by the abbreviation, L.R. I R.P.).
20. Ibid., pp. 131-32, 180-82.
21. Ibid., p. 183.
22. Report on the Supply of Buildings in The Greater London Area, H.M.S.O., 1954, ch. 3.
23. L.R. I R.P., p. 329 ff.
24. Report on the Supply and Export of Matches and the Supply of Matchmaking Machinery, H.M.S.O., 1953, ch. 10.

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