Disequilibrium,power and economic systems

Summary This is a review article of D.B.J. Schouten's new book Macht en wanorde, Een vergelijking van economische stelsels (Power and Disorder, A Comparison of Economic Systems). After having summarised the book's contents, three points are discussed: (a) does the book offer a comparison of economic systems as its subtitle suggests; (b) how does Schouten's theory relate to disequilibrium analysis and does it give a better understanding of disequilibria than disequilibrium analysis; (c) is Schouten's proposal of a centrally-guided rate of return policy indeed to be preferred above a centrally-guided wage policy in order to overcome the basic problem in capitalist market economies of slow and sometimes perverse adjustments?D.B.J. Schouten,Macht en wanorde, Een vergelijking van economische stelsels, (Power and Disorder, A Comparison of Economic Systems), H.E. Stenfert Kroese b.v., Leiden/Antwerpen, 1980: Pp. 270. Dfl. 47,50.I am indebted to Professor Th. van de Klundert for useful comments.     

Selected Economic Analysis at the Antitrust Division: The Year in Review

Of the many activitiesof the Antitrust Division of theU.S. Department of Justice, we havesummarized some that raise interestingeconomic issues. We describe recentimprovements in the methodology to beused in ``coordinated effects' analysisof mergers. We also discuss four casesbrought by the DOJ that raise issues ofmarket definition, the influence ofcommon partial ownership of competitors,and the effects of fringe suppliers inconstraining collusion by large firms.