Dissenting economists on competition: institutionalism versus the classics and Marx – comparing the fundamentals (opens in new tab)

Today’s post continues the current series on capitalist competition, contrasting the competing visions of original institutional economics and classical and Marxist political economy. While both reject the neoclassical mainstream as fundamentally divorced from reality, they differ sharply in a number of respects, particularly when it comes to the response of public policy towards market power. […]