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Monopolistic Competition and the Capital Market

In: The Economics of Imperfect Competition and Employment

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  • Joseph E. Stiglitz

Abstract

This essay is related to two topics on which Joan Robinson1 made important contributions. The first is the theory of imperfect competition. At the time it was written, The Economics of Imperfect Competition was heralded (along with Chamberlin’s contemporaneous book The Theory of Monopolistic Competition 2) as doing for microeconomics what Keynes had done for macroeconomics. But the revolution to which it was supposed to give rise never occurred, and it was almost forty years before the themes she developed there again became the focus of theoretical research.3

Suggested Citation

  • Joseph E. Stiglitz, 1989. "Monopolistic Competition and the Capital Market," Palgrave Macmillan Books, in: George R. Feiwel (ed.), The Economics of Imperfect Competition and Employment, chapter 15, pages 485-507, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08630-6_15
    DOI: 10.1007/978-1-349-08630-6_15
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    Cited by:

    1. Stiglitz, Joseph E., 2017. "Monopolistic competition, the Dixit–Stiglitz model, and economic analysis," Research in Economics, Elsevier, vol. 71(4), pages 798-802.

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