Welfare & Competition.

Print version record.

Cover; Title Page; Copyright Page; Dedication; PREFACE; TABLE OF CONTENTS; PART I. INTRODUCTION; I. THE SUBJECT MATTER OF ECONOMICS; II. THE MARKET; 1. Isolated Bargaining; 2. Competitive Bargaining; 3. Perfect Competition; 4. Price Setting; 5. The Types of Competition among Price Makers; 6. Bilateral Monopoly; 7. Trade on Prescribed Terms; PART II. THE PRICE TAKER'S BEHAVIOR AND PERFECT COMPETITION; III. THE CONSUMER; 1. The Indifference Map; 2. The Income-Consumption Curve; 3. The Price-Consumption Curve; 4. Complementarity and Substitutability; 5. The Importance of Time and Habit.

IV. THE CONSUMERS' MARKET AND THE NOTION OF ECONOMICEFFICIENCY1. The Efficiency of Distribution; 2. Equity and Efficiency; NOTE TO CHAPTER IV: Productive Efficiency and the Size of theNational Product; V. THE WORKER AND THE EFFICIENCY OF THE LABOR MARKET; 1. The Worker's Choice between Work and Leisure; 1a. The Income-Offer Curve; lb. The Price-Offer Curve; 2. Allocation of Work within One Occupation; 3. The Worker's Choice of Occupation; 4. Specialization among Workers; 5. An Alternative Approach; 6. The Distribution of Income Paid for Personal Services; VI. THE FIRM.

1. The Production FunctionVII. THE FIRM (CONTINUED): THE MARKET BEHAVIOR OF THEFIIW; 1. The Combination of Productive Factors; 2. The Determination of the Firm's Output; 3. The Combination of Products; 4. The Firm's Offer of Products; 5. Technical Complementarity and Substitutability; 6. The Firm's Demand for Factors; NOTE TO CHAPTER VII: The Entrepreneur; VIII. THE EFFICIENCY OF PRODUCTION; 1. The Technological Efficiency of the Firm; 2. The Technological Efficiency of the Industry; 2a. Efficient Allocation within the Industry.

2b. The Average Technological Efficiency of the Industry's Members3. The Economic Efficiency of the Firm; 3a. The Efficient Combination of Products; 3b. The Efficient Combination of Factors; 3c. The Efficient Rate of Production; 3d. The General Case; 4. The Economic Efficiency of the Industry; 5. The Economic Efficiency of Allocation between Industries; 6. The General Efficiency of the Perfectly Competitive Economy; NOTE TO CHAPTER VIII: The Distinction between Social andPrivate Marginal Value and Product; 1. Social versus Private Marginal Value; 2. Social versus Private Marginal Product.

IX. CAPITAL1. The Subject Matter of Dynamic Economics; 2. Stability and Dynamic Efficiency; 2a. The Willingness to Borrow; 2b. The Willingness to Lend; 3. Capital as a Factor of Production; 4. The Investment Policy of the Firm; 5. The Allocation of Capital; 6. The Scarcity of Capital and Its Remuneration; NOTE TO CHAPTER IX: Land; X. THE STABILITY OF PERFECT COMPETITION; 1. The Subject Matter of Dynamic Economics; 2. Stability and Dynamic Efficiency; 3. Speculation; PART III. THE PRICE MAKER'S BEHAVIOR AND FREE COMPETITION; XI. THE PRINCIPLES OF THE PRICE MAKER'S BEHAVIOR; 1. The Seller.

2. The Buyer.

Dealing with general economic theory, other than employment theory, the book discusses the theory of pure and monopolistic competition - with a special emphasis upon welfare aspects. Beginning with an analysis of the consumer and of the individual firm, the main stress is nevertheless placed on the analysis of the economic system as a whole.

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