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
The Review of Austrian Economics – Springer Journals
Published: Sep 21, 2015
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