From Micro to Mesoeconomics
By Stuart Holland
In The Market Economy Stuart Holland exposes the unreal foundations of conventional microeconomic theory and looks at the way in which a few dozen firms command the output and trade of the world’s leading economies. Extending oligopoly power, these firms impose unequal conditions of competition in the market. In contrast with the traditional theory of the firm and industry, big business is now multiproduct, multisectoral, multiregional and multinational. It dominates both the microeconomy of small firms and national macroeconomics policies and performance. New principles and policies, the author argues, are required to explain and counteract such concentrated market power.