Pascal Salin, competition, coordination and diversity: From the firm to economic integration

Pascal Salin, competition, coordination and diversity: From the firm to economic integration Rev Austrian Econ (2017) 30:143–146 DOI 10.1007/s11138-015-0331-y Pascal Salin, competition, coordination and diversity: From the firm to economic integration Cheltenham, UK and Northampton, MA: Edward Elgar Publishing, Inc., 2015. xvi + 305 Pages. £85.00 (hardback) David J. Hebert Published online: 21 September 2015 Springer Science+Business Media New York 2015 Competition, Coordination, and Diversity: From the Firm to Economic Integration is a book that seeks to present an Austrian approach to understanding the determination of the degrees of homogeneity and diversification within society. The author, in the introductory chapter, describes the basic premise of the book by saying, Bthe determi- nation of the optimal degree of diversification and, therefore, the optimal degree of homogenization, is one of the great problems all societies have to solve,^ (Salin 2015, xiii). What the author is getting at here is the idea that, rather than believe in the idea of strict homogenization, as the neoclassical model of perfect competition seems to, markets tend to promote diversification as entrepreneurs find new ways to satisfy consumers. However, we should also acknowledge that there is a limit to the benefits of diversification—as the author notes, having a common language is vital as Bthe relations between individuals, which http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Pascal Salin, competition, coordination and diversity: From the firm to economic integration

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Publisher
Springer US
Copyright
Copyright © 2015 by Springer Science+Business Media New York
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1007/s11138-015-0331-y
Publisher site
See Article on Publisher Site

Abstract

Rev Austrian Econ (2017) 30:143–146 DOI 10.1007/s11138-015-0331-y Pascal Salin, competition, coordination and diversity: From the firm to economic integration Cheltenham, UK and Northampton, MA: Edward Elgar Publishing, Inc., 2015. xvi + 305 Pages. £85.00 (hardback) David J. Hebert Published online: 21 September 2015 Springer Science+Business Media New York 2015 Competition, Coordination, and Diversity: From the Firm to Economic Integration is a book that seeks to present an Austrian approach to understanding the determination of the degrees of homogeneity and diversification within society. The author, in the introductory chapter, describes the basic premise of the book by saying, Bthe determi- nation of the optimal degree of diversification and, therefore, the optimal degree of homogenization, is one of the great problems all societies have to solve,^ (Salin 2015, xiii). What the author is getting at here is the idea that, rather than believe in the idea of strict homogenization, as the neoclassical model of perfect competition seems to, markets tend to promote diversification as entrepreneurs find new ways to satisfy consumers. However, we should also acknowledge that there is a limit to the benefits of diversification—as the author notes, having a common language is vital as Bthe relations between individuals, which

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Sep 21, 2015

References

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