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- W2023631189 abstract "Abstract British industrial structure has played a central role in historical accounts of British economic performance in the 20th century, and the motor industry has occupied a prominent place in these narratives. This paper formulates a neoclassical model of market failure and applies the model to an evaluation of the size of the motor industry before 1939. The main sources of possible market failure studied are the method of road finance, unemployment, monopolistic behavior, economies of scale, and protection from foreign competition. It is concluded that devoting a larger proportion of national resources to the motor industry could probably have raised national income and welfare throughout the period studied." @default.
- W2023631189 created "2016-06-24" @default.
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- W2023631189 date "1981-07-01" @default.
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- W2023631189 title "The effect of market failure on the British motor industry before 1939" @default.
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- W2023631189 doi "https://doi.org/10.1016/0014-4983(81)90013-9" @default.
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