Economists never managed to consistently integrate micro- and macroeconomics. Walrasian economics is built upon microfoundations. These consist of patently absurd subjective-behavioral assumptions. Keynesian economics is built upon objective-structural macrofoundations. These are algebraically...

Cournot influenced neoclassical economics deeply on two significant issues. First, on the issue of the price taking concept and horizontal demand curve for the firm, by the misinterpretation of his price stability condition by the neo-classical theorists. And second, on the issue of the number...

This paper is a continuation and completion of my article “Revisiting Cournot and Neoclassical Economics” (Nomidis 2023). It continues the search for the reasons that led Cournot and later Neoclassical theorists to consider an infinite number of minimal-size firms as a necessary condition...

The purpose of this article is to show that there is a gap in the literature on the sources of monopoly power. It looks at the literature on the history of different topics (Industrial Organization, Models of profit maximization in non-competitive markets, Antitrust, Competition) to find out...

This paper examines Alfred Marshall's invention of the representative firm. Marshall first used the representative firm in order to describe an industry supply curve for an industry with heterogeneous firms. Despite Marshall's limited use of the notion, the representative agent was extensively...

ResumenEn la historia del pensamiento económico se identifica a la escuela neoclásica como la línea de análisis de mayor grado de desarrollo epistemológico, y dentro de los principales aportes de esta línea se identifica la conceptualización y aplicabilidad del concepto demanda. En el...

A pesar de los múltiples avances y modificaciones que ha sufrido la teoría microeconómicaneoclásica, sus dos modelos canónicos continúan siendo el de equilibrio parcial y el de equilibriogeneral. Contrario a lo que habitualmente se expone, existe abundante literatura que...

Modern microeconomics foundations of industrial regulation policies were developed during the second half of the 19th century. One of the main theoretical and applied debates which is still an issue today concerns natural monopolies. Railroads were at the center of these debates, because of...

Wie selbstverständlich geht die heutige ökonomische Standardlehre davon aus, dass sie Studierenden eine feste und unveränderliche Sicht auf die Welt vermitteln kann. Doch woher kommt diese Annahme? Walter Lippmann, einer der Begründer des Neoliberalismus, gibt hierauf einen ersten Hinweis:...