Hyman Minsky used to joke that there are as many varieties of capitalism as Heinz has pickles--57. (Minsky 1991) In this contribution, we will be analyzing one of them--the general form of post-war capitalism taken in the developed countries, which can be characterized as Financial Capitalism. Obviously, there are differences in the specific form that financial capitalism takes over the postwar...

In this paper we study the endogenous determination of monopoly price. Our proposed game of endogenous monopoly-price setting extends the literature on monopoly-price, monopoly rent-seeking contests and monopoly rentseeking rent-avoidance contests by (i) determining the monopoly price such that it maximizes a composite utility function that depends on two components: expected social welfare and...

the perform type of the monopoly enterprises are diversified, which is caused due to combined action of multiple effects. The interactive performance between “gene type” and environment of the monopoly enterprises is one critical part. Accurate definition can assist to speed up expected benefits of the monopoly enterprises’ reform and construct the salary incentive mechanism of the monopoly ent...

We extend an analytical general equilibrium model of environmental policy with pre-existing labor tax distortions to include pre-existing monopoly power as well. We show that the existence of monopoly power has two offsetting effects on welfare. First, the environmental policy reduces monopoly profits, and the negative effect on income increases labor supply in a way that partially offsets the ...

The term corporate governance is used in two distinct ways. In Anglo-Saxon countries like the US and UK good corporate governance involves Þrms pursuing the interests of shareholders. In other countries like Japan, Germany and France it involves pursuing the interests of all stakeholders including employees and customers as well as shareholders. Anglo-Saxon capitalism has been widely analyzed b...

Work in pre-industrial societies Work in industrial capitalist societies Main features of work in industrial capitalist societies Capitalist industrialization and the primacy of work Crises and industrial capitalism Technological and organizational change The rise of trade unions Women and work in the development of industrial capitalism The dominant conception of work in industrial capitalism ...

State - Owned Enterprises which were formed on the basis of mandate Article 33 1945 Constitution Republic Indonesia, in their journey carrying out activities various business fields obtain purchases to carry monopolies. This exception is further strengthened by 51 Law Number 5 1999 concerning Prohibition Monopolistic Practices and Unfair Business Competition . In general, there are natural mono...

This paper addresses the claim that monopolies arise naturally out of the free market. I show by comparing and contrasting two theories of monopoly—economic and political monopoly—that this is not true. This paper also demonstrates that the two theories of monopoly have their separate roots in two opposite theories of competition: perfect competition and competition as rivalry. I show that only...