Bøker av H. Lydall

Because it takes time for firms to improve their technology, and to acquire the necessary finance for expansion, there are wide differences in firm sizes, and in their profitability. The competitive struggle to develop better technology raises the level of productivity of the whole economy, and leads to higher real incomes.

A crucial factor in economic growth - the supply of entrepreneurship - is largely neglected in modern economic theory. Instead, the author proposes two alternative models of 'entrepreneurial competition', one for conditions of near-perfect competition in product markets and the other for imperfect competition in those markets.