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Steindl On Imperfect Competition: The Role Of Technical Change

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  • Harry Bloch

Abstract

Josef Steindl offers an innovative dynamic analysis of competition in Maturity and Stagnation in American Capitalism, with a key role for technical change. However, in his later writings he suggests that he had not gone far enough and that his account was not ‘sufficiently dynamic’, noting particularly his neglect of fundamental issues in technological development. Here, we critically examine the nature of technical change in Steindl’s analysis, pointing to ambiguities and contradictions that arise. Standard characterizations of the nature of technical change are then introduced and used to further integrate technical change into Steindl’s analysis of competition.

Suggested Citation

  • Harry Bloch, 2006. "Steindl On Imperfect Competition: The Role Of Technical Change," Metroeconomica, Wiley Blackwell, vol. 57(3), pages 286-302, July.
    • Handle: RePEc:bla:metroe:v:57:y:2006:i:3:p:286-302
    DOI: 10.1111/j.1467-999X.2006.00244.x
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    References listed on IDEAS

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    1. Harry Bloch, 2000. "Schumpeter and Steindl on the dynamics of competition," Journal of Evolutionary Economics, Springer, vol. 10(3), pages 343-353.
    2. Pankaj Ghemawat, 1997. "Games Businesses Play: Cases and Models," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262071827, April.
    3. Nina Shapiro, 1986. "Innovation, New Industries and New Firms," Eastern Economic Journal, Eastern Economic Association, vol. 12(1), pages 27-43, Jan-Mar.
    4. Harry Bloch, 2000. "Steindl's Contribution to the Theory of Industry Concentration," Australian Economic Papers, Wiley Blackwell, vol. 39(1), pages 92-107, March.
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    Cited by:

    1. Jo Voola, 2006. "Technological change and industry structure: A case study of the petroleum industry," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(3), pages 271-288.

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