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From the Perfect Economy to the Predatory State: The Internal Logic of Distortions

In: The Distorted Economy

Author

Listed:
  • Hans C. Blomqvist
  • Mats Lundahl

Abstract

A central thesis in modern economics is that the market system automatically produces the optimal allocation of resources provided that there is perfect competition in all markets. This was also the starting point of the present book. The purpose of the book was to show how it then comes that the theoretical ideal usually in reality is replaced by a system full of distortions — often initiated by economic policy — and which welfare effects this leads to. The theoretical instrument consistently employed in the book is a simple neoclassical model of the general equilibrium type.

Suggested Citation

  • Hans C. Blomqvist & Mats Lundahl, 2002. "From the Perfect Economy to the Predatory State: The Internal Logic of Distortions," Palgrave Macmillan Books, in: The Distorted Economy, chapter 14, pages 243-247, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-1434-7_14
    DOI: 10.1057/9781403914347_14
    as

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