Quarterly Journal of Austrian Economics
Author:
Mateusz Machaj
Online Publish Date:
since it seriously misrepresented the market process, and inspired ill-conceived policies aimed at promoting competitive enterprises. Fortunately the theory of rate of profit (a widget price of 25 dollars). After the success of hit and run policy, the entrant decides to leave the market. Fixed costs need not be a barrier to exert—any influence. One hears of no clever ruses, ingenious schemes, brilliant innovations, of no charisma or of any of the other stuff of which outstanding