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The Power of Economics Versus the Economics of Power

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  • Michael Perelman

Abstract

Aside from discussion in microeconomics of monopolies, economics textbook rarely mention power. Does it simply not exist? If it is discussed at all, it is always said to be a function of asymmetric information. This economist argues that economists have to explore power much more profoundly and free of ill-founded free-market assumptions.

Suggested Citation

  • Michael Perelman, 2012. "The Power of Economics Versus the Economics of Power," Challenge, Taylor & Francis Journals, vol. 55(6), pages 53-66.
    • Handle: RePEc:mes:challe:v:55:y:2012:i:6:p:53-66
    DOI: 10.2753/0577-5132550603
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    References listed on IDEAS

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    1. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-795, December.
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