The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Competitive Market Processes

  • J. A. Clifton
Reference work entry


Do fully competitive price signals from intense rivalry in the market justify the moral sentiment of laissez-faire? On grounds of distributive justice among risk-takers, the answer has generally been ‘yes’ throughout the history of economic analysis.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • J. A. Clifton
    • 1
  1. 1.