Titlebook: Allyn Abbott Young; Ramesh Chandra Book 2020 The Editor(s) (if applicable) and The Author(s) 2020 Allyn Abbott Young.History of economic t

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,Allyn Young’s Contribution to Economic Theory, of various market forms and thought that in the real world competition generally prevailed. He also thought that the case against monopoly was overstated and it was difficult to find a capitalistic monopoly. He presented a circular flow model of an economy and also a theory of an equilibrium rate of progress.

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álvaro Rocha,Robson Pacheco Pereirais students. His teaching style included long pauses as he developed his ideas as he went along. He was mentor to famous students such as Knight, Chamberlin and Currie. His influence on Chamberlin’s . and Knight’s . was immense. But he differed from them for their static view of competition as he strove to develop a dynamic theory.

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,Young’s Estimate of His Contemporaries and Earlier Economists,systems of Walras and Pareto which had little bearing on the practical problems of economic life. Marshall’s approach, on the other hand, was more practical. He appreciated Counot’s treatment of imperfect competition and Ricardo’s theory of rent.

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