Edward H. Chamberlin

The Product as an Economic Variable

I. Introduction: the inadequacy of mere price-quantity analysis; possible relationships between the four variables of price, product, advertising and quantity, 1. — II. Products are variable; the meaning of product determination, 8. — III. Three main determinants of products: custom, 12; standards, 14; profit maximization, 17.

Labor Unions and Public Policy

In this volume, four distinguished scholars explore several important facets of the growth of labor union power.

Measuring the Degree of Monopoly and Competition

AN analysis of the problem of measuring monopoly and competition 1 should start from definitions, so that it may be clear from the first what it is whose measurement is being discussed. As a part of the intensive theoretical study of this field in recent years a number of new definitions of monopoly have appeared, and I should like to make clear from the beginning that I do not accept any of them. Dr. Triffin, after discussing some of these new definitions, comments that ‘Professor Chamberlin seems to be the only one who has kept without a particle of change the old traditional definition of monopoly as control over supply ’.2 This is what monopoly has always meant, and I see no reason to change it.

Labour Union Power and Cost-Inflation

Trade union structure varies in different countries, and the role of labour union power in inflation varies accordingly. This is true not merely with respect to the amount of power, but, much more important, with respect to its nature and to the context in which it operates. The conditions envisaged in this paper are mainly those of the economy of the U.S.A. However, I believe (and hope) that the arguments presented will have general validity wherever similar conditions are found. It will be assumed that stable prices are desirable, with no rebuttal attempted against those who like inflation (only a little, of course, and not too fast). The definition of inflation is also not discussed — it does not appear necessary to limit the positions here taken by tying them to any particular definition.

Towards a More General Theory of Value

This collection of essays on monopolistic competition is designed for the general economist and to serve as a text or supplementary reader for courses in economic theory, advanced theory, and various applied fields, including marketing and industrial organization.