Salvadori, Neri (Author)
Signorino, Rodolfo (Author)
The article discusses the economic notion of competition in texts of classical economics, noting a classical theory of market prices. Topics include the notion of free competition in the thought of economists Adam Smith and Karl Marx, the thought of economist Léon Walras on competition and an equilibrium state, and the differences between neoclassical and classical models of competition. Also addressed are the concept of perfect competition, the views of mathematician Joseph Louis François Bertrand, and the role of marginal costs in competition.
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