Abstract
The threads of the discussion so far will now be drawn together. The implications for the policy maker will be examined and an evaluation of possible courses of action will be made.
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References
G. S. Becker, ‘A Theory of the Allocation of Time’, Economic Journal (1965).
‘Report on the Supply of Household Detergents’ (The Monopolies Commission, 1966) House of Commons Papers 105.
Ibid., p. 44, para 125.
‘ … competition is restricted to the field of advertising and promotion. This not only results in wasteful expenditure but also deters potential competitors who might, otherwise, provide a safeguard against excessive profits … If competition can be diverted from excessive advertising and promotion to prices, we believe that the result will be not only a saving in cost but also a more effective check upon profits.’ Ibid., p. 43, para 121.
Polanyi, op. cit., p. 25.
Ibid., pp. 40–2.
‘It is difficult to see any reason, other than that the terms of entry are too onerous, why this profitable field should, with the exception of liquid detergents, have been left largely in the hands of the two companies … We are indeed a little surprised that multiple stores which market their own brands of liquid detergents do not as a rule market their own brands of powders.’ House of Commons Papers 105, op. cit. p. 36, para 104. (my italics).
Advertising, Opposition Green Paper (The Labour Party, 1972), p. 56.
Ibid., p. 15.
J. Schumpter, Capitalism, Socialism and Democracy (New York: Harper, 1950) p. 88.
Ibid., p.84.
J. L. Simon, Issues in the Economics of Advertising (University of Illinois Press, 1970) pp. 279–80.
Opposition Green Paper, op. cit., p. 55.
Cited from the Daily Telegraph, 7 Aug 1972.
Taplin, op. cit., p. 111.
D. Tarschys, ‘The Demanding Consumer: Developments in Sweden’, Advertising Quarterly, No. 28 (Summer 1971) 15.
Y. Brozen, ‘The FTC and “Trial by Publicity”’,Advertising Quarterly No. 31 (Spring, 1972) 26–7.
Tarschys, op. cit., p. 20.
Economists’ Advisory Group, p. 78.
Ibid., p. 77.
Ibid., p. 81.
Opposition Green Paper, op. cit., p. 3.
Which (Mar 1972) 66.
Opposition Green Paper, op. cit., p. 8.
Cited from The Financial Times, 16th July, 1973.
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© 1974 W. Duncan Reekie
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Reekie, W.D. (1974). An Optimum Supply-Demand Equilibrium?. In: Advertising. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-02084-3_8
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DOI: https://doi.org/10.1007/978-1-349-02084-3_8
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