Economic Concentration and the Monopoly Problem

The papers in this volume relate mainly to problems of monopoly and the large firm in the 1940s and '50s. It was a period during which relative certainty concerning these problems had given way to relative uncertainty. It saw striking theses disintegrate under the corrosive action of factual criticism; and syntheses arise which, if much less striking, were also much more realistic. Edward S. Mason's contributions to "the progress of economic science" along these lines of increasing...
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The papers in this volume relate mainly to problems of monopoly and the large firm in the 1940s and '50s. It was a period during which relative certainty concerning these problems had given way to relative uncertainty. It saw striking theses disintegrate under the corrosive action of factual criticism; and syntheses arise which, if much less striking, were also much more realistic. Edward S. Mason's contributions to "the progress of economic science" along these lines of increasing realism make thought-provoking reading.

The papers in Part I mainly relate to the large firm in the American economy and to various alleged effects of economic concentration on competition. Part II is concerned with the behavior of prices and wage rates and its consequences in the cycle. Part III deals with the raw materials problem, especially in relation to the conditions of economic growth and national security. In introductory remarks preceding each section Mason summarizes the general problems under discussion, and in a General Introduction to the book he reviews the course of economic thinking on the problems of monopoly. People who are concerned with public policy toward the large firm, monopoly and competition, and natural resources--whether in business, in the law, in government, or in academic life--will find Mason's thoughts on these subjects stimulating, and will thoroughly enjoy his clear and lively presentation.