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E.H. Chamberlin and Contemporary Industrial Organisation Theory

Journal of Economic Studies

ISSN: 0144-3585

Article publication date: 1 February 1990

344

Abstract

Edward Hastings Chamberlin, a great innovator in economic theory, has been badly served by his “followers”, who have “blanked” and “distorted” his message. Today it is the Chicago critics of monopolistic competition, not his self‐appointed followers at Harvard, who are developing an economics of industrial organisation that more nearly captures the spirit of Chamberlin′s work. Chamberlin′s central insight was that quality dimensions and other means of product differentiation are essential elements (in addition to nominal prices) in the analysis of how economic markets actually work. Although Chamberlin initially tried to fit his theory into the conventional mould of Marshallian economics, with predictably unsatisfactory results, this should not be allowed to obscure the novelty and robustness of his contribution.

Keywords

Citation

Ekelund, R.B. and Hébert, R.F. (1990), "E.H. Chamberlin and Contemporary Industrial Organisation Theory", Journal of Economic Studies, Vol. 17 No. 2. https://doi.org/10.1108/01443589010136951

Publisher

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MCB UP Ltd

Copyright © 1990, MCB UP Limited

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