search query: @freeterm investments / total: 5
reference: 3 / 5
| Author: | Susjan, A. |
| Title: | The concept of competition in economic theory |
| Journal: | Nase gospodarstvo
1994 : VOL. 40:6, p. 673-680 |
| Index terms: | |
| Freeterms: | economic theories, classical political economy, neo-classicists, marginalism, post-keynesianism, enterprises, competition, price, costs, market structure, technological development, investments |
| Language: | slv |
| Abstract: | Classical economic theory treated competition as a dynamic process in which firms compete with each other in the area of production technology and in reducing costs and prices.Later the dominant (neoclassical) economic theory through marginalism gradually transformed competition into a static category, determined by the market structure.However, in the 20th century there has been a tendency in economic theory to reaffirm classical, dynamic view of competition.In this respect a major contribution came from Schumpeter, whose ideas are compatible with contemporary post-Keynesian economic theory, according to which competition is a process of technological rivalry based on firms' investment behaviour. |
SCIMA