Since the pioneering study of Harberger, monopoly welfare loss has received much attention in the literature. However, no attempt has been made explicitly to incorporate oligopolistic interaction. In this paper we postulate a specific social welfare function and solve directly for the level of...

The main purpose of this paper is to examine recent work in monopolistic competition theory concerned with the influence of fixed costs (no convexities) on Chamberlin’s (1951) welfare ‘ideal’ which distinguishes a trade-off between allocative efficiency and product diversity. Inefficiency...

The question of what effect if any trade unions have on the functional distribution of income is an old one. Conventional production theory suggests that the presence of a monopoly element on the supply side of a particular labour market may well raise wages but in the long run any factor...

This paper presents evidence on the impact of trade unions on wageshare under different collective bargaining arrangements, using a Kaleckian degree og monopoly framework. Comparable results are presented for union impact on wage levels and from these inferences are drawn about how the impact on...

As an attempt at linking together profitability, income distribution and economic crisis the work of Weisskopt (1979) represents a very important seminal contribution to the literature. In a cunningly simple model Weisskopt assesses the importance of three major Marxist explanations of economic...