The following (graduate) reading list comes from Zvi Griliches’ papers at the Harvard University Archives. In structure and content it matches George Stigler’s reading list from the University of Chicago in 1973 previously transcribed and posted, so there is no doubt where and from whom the reading list has come. There are indeed some additions and subtractions between the 1959 and 1973 versions which are indications of how the field evolved over those years, at least in George Stigler’s mind.
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READING LIST
INDUSTRIAL ORGANIZATION
1959
I. The Firm-Structure of Industries
1. The competitive concept in theory and quantitative studies
A. P. Lerner, “The Concept of Monopoly,” Review of Economic Studies, Vol. I
R. Triffin, Monopolistic Competition and General Equilibrium Theory, pp. 125 ff.
J. M. Clark, “Toward a Concept of Workable Competition,” American Economic Review, June 1950 or Readings in Social Control of Business
A. Marshall, Principles of Economics, Bk. V, Ch. 12
F. H. Knight, Risk, Uncertainty and Profit, pp. 76 ff.
E. Chamberlin, Theory of Monopolistic Competition, Ch. 1
G. Stigler, “Perfect Competition, Historically Contemplated,” Journal of Political Economy, 1957
R. Bishop, “Elasticities, Cross-elasticities, and Market Relationships,” American Economic Review, December 1952, June 1955
G. Rosenbluth, “Measure of Concentration,” in Business Concentration and Price Policy
T.N.E.C. Monograph 27, The Structure of Industry, Part 5
T. Scitovsky, “Economic Theory and Measurement of Concentration,” in Business Concentration and Price Policy
2. Some statistical studies
National Resources Comm., The Structure of the American Economy, Ch. 7, Appendix 7
Clair Wilcox, Competition and Monopoly, T.N.E.C. Monograph 21
The Structure of Industry, T.N.E.C. Monograph 27
Berle and Means, The Modern Corporation, Bk. II
G. Stigler, “Competition in the United States,” Five Lectures on Economic Problems
F.T.C., The Concentration of Productive Facilities
A. C. Harberger, “Monopoly and Resource Allocation,”American Economic Review, May 1954
A. D. Kaplan, Big Enterprise in a Competitive System
3. The trend of the structure
T.N.E.C. Monograph 27, Part I
G. W. Nutter, The Extent of Enterprise Monopoly
M. A. Adelman, “Measurement of Industrial Concentration,” in Industrial Organization and Public Policy
F.T.C. Changes in Concentration in Manufacturing, 1935 to 1947 and 1950
II. Factors Influencing Firm-Structures
1. Economies of scale
Cost Behavior and Price Policy, esp. Ch. 10
E. A. G. Robinson, The Structure of Competitive Industry, Ch. 2-7
J. M. Clark, Economics of Overhead Costs, Ch. 5, 6
W. Crum, Corporate Size and Earning Power
J. McConnell, “Corporate Earnings by Size of Firm,” Survey of Current Business, May 1945
J. Johnston. “Labour Productivity and Size of Establishment,” Oxford Institute of Statistics, 1954
R. C. Osborn, Effects of Corporate Size on Efficiency and Profitability
Caleb Smith, “Survey of Empirical Evidence,” in Business Concentration and Price Policy
J. S. Bain, “Economies of Scale, ….” in Industrial Organization and Public Policy
G. J. Stigler, “The Economies of Scale,” Law and Economics, 1958
2. Mergers
F.T.C., The Merger Movement
A. S. Dewing, “A Statistical Test of the Success of Consolidations,” Q.J.E., 1931
S. Livermore, “The Success of Industrial Mergers,” Q.J.E., 1935
A. S. Dewing, Corporate Promotions and Reorganizations, Ch. 20, 21
G. Stigler, “Monopoly and Oligopoly by Merger,” in Industrial Organization and Public Policy
Butters and Linter, “Effect of Mergers on Industrial Concentration,” Review of Economics and Statistics 1950
F.T.C. Report on Corporate Mergers and Acquisitions
J. Markham, “Survey of the Evidence and Findings on Mergers,” in Business Concentration
F. Machlup, Political Economy of Monopoly, pp. 105-17
J. F. Weston, The Role of Mergers in the Growth of Large Firms
G. Stigler, “The Statistics of Monopoly and Merger,” Journal of Political Economy, 1956
3. Raw materials
W. Y. Elliott, ed., International Control in the Non-ferrous Metals, essays on Nickel and Aluminum
E. A. G. Robinson, Monopoly, Ch. 3
R. H. Montgomery, The Brimstone Game, Ch, 4-9
D. H. Wallace, Market Control in the Aluminum Industry
4. Patents
A. Plant, “Economic Theory Concerning Patents for Invention,” Economica, 1934 (also companion article on copyrights)
Proceedings, American Econ. Assoc., May 1948 roundtable on patents
T.N.E.C. Monograph 31, pp. 109-15, 93-103
Seager and Gulick, Trust and Corporation Problems, pp. 280-303
Stocking and Watkins, Monopoly and Free Enterprise, Ch. 14
R. MacLaurin, “Patents and Economic Progress,” J.P.E., 1950
5. Taxation and tariffs
D. H. MacGregor, Industrial Combinations, pp. 127 ff.
Linter and Butters, “Effects of Taxes on Concentration,” in Business Concentration
T.N.E.C. Monograph No. 10
6. Unfair Competition
J. S. McGee, “Predatory Price Cutting,” Law and Economics, 1958
III. The Effects of Concentration
1. Collusion
R. B. Tenant, The American Cigarette Industry
W. Fellner, Competition Among the Few
W. Nicholls, Imperfect Competition Within Agricultural Industries, pp. 120-130
F. Machlup, Economics of Sellers’ Competition, Ch. 13
2. Prices
a. Discrimination
Burns, Decline of Competition, pp. 272-372
N.I.C.B., Public Regulation of Competitive Practices, pp. 63-85
J. P. Miller, Unfair Competition, Ch. 7-9
J. Robinson, Economics of Imperfect Competition, Bk. V
F. Machlup, The Basing Point System
J. M. Clark “Basing Point Methods,” Canadian Journal of Economics and Political Science, 1938
F.T.C., Price Bases Inquiry
T.N.E.C. Monograph 42
G. Stigler, “A Theory of Uniform Delivered Prices,” A.E.R. 1949
C. Kaysen, “Basing Point Pricing and Public Policy,” in Industrial Organization and Public Policy
b. Rigidity
G. Means, Industrial Prices and their Relative Inflexibility
Burns, Decline of Competition, Ch. 5
E. S. Mason, “Price Inflexibility,” Review of Economic Statistics, 1938
T.N.E.C., Monograph No. 1
Sweezy and Stigler, Articles in Readings in Price Theory
A. C. Neal, Industrial Concentration and Price Inflexibility
Machlup, Economics of Sellers’ Competition, Ch. 14
3. Profits
J. S. Bain, “The Profit Rate as a Measure of Monopoly Power,” Q.J.E., 1941
R. C. Epstein, Industrial Profits in the United States
J. S. Bain, “Relation of Profit Rate to Industry Concentration,” Q.J.E., August 1951
IV. Topics in Industry Behavior with Oligopoly
1. Advertising
E. Chamberlin, Theory of Monopolistic Competition, Ch. 6-7
N. Buchanan, Advertising Expenditures, J.P.E. 1942
N. Kaldor, “Economic Aspects of Advertising,” Review of Economic Studies, 1950
2. Vertical Integration
Smith, Wealth of Nations, Bk. I, Ch. 3
Marshall, Principles of Economics, Bk. IV, Ch. 10-13
A. Young, “Increasing Returns and Economic Progress,” E.J. 1928 (and in Clemence’s Readings in Economic Analysis 2 Vols.)
J. Jewkes, Factors in Industrial Integration, Q.J.E., 1930
S. Dennison, Vertical Integration and the Iron and Steel Industry, E.J. 1939
A. R. Burns, Decline of Competition, Ch. 9
Stigler, “Division of Labor is Limited by the Extent of Market,” J.P.E. 1951
M. Adelman, “Concept and Measurement of Vertical Integration,” in Business Concentration and Price Policy
3. Schumpeter’s Theory
Schumpeter, Capitalism, Socialism and Democracy, Ch. 7-8
K. Boulding, “In Defense of Monopoly,” Q.J.E., 1945
D. H. MacGregor, Industrial Combination, Ch. 12
G. Stigler, “Industrial Organization and Economic Progress,” in State of the Social Sciences.
V. Large Number Industries
1. Cartels
Stocking and Watkins, Cartels in Action, Ch. 4-11
Stocking and Watkins, Cartels or Competition, Ch. 3-7
C. Edwards, Economic and Political Aspects of International Cartels
Ben Lewis, Price and Production Controls in British Industry
A. F. Lucas, Industrial Reconstruction and the Control of Competition
R. Michels, Cartels, Combines and Trusts in Post-War Germany
R. Liefman, Cartels, Concerns and Trusts
C. Wilcox, Public Policies Toward Business, Ch. 16
2. Trade Associations
V. Mund, Government and Business, Ch. 11
Burns, Decline of Competition, Ch. 2
T.N.E.C. Monograph No. 18
H. Levy, Retail Trade Associations
Stocking and Watkins, Monopoly or Free Enterprise, Ch. 8, 10, 11
3. Retailing: Resale Price Maintenance
W. Bowman, “Prequisites and Effects of Resale Price Maintenance,” University of Chicago Law Journal, 1955
E. Grether, Price Control under Fair Trade Legislation
F.T.C., Resale Price Maintenance
W. Bowman, “Resale Price Maintenance,” Journal of Business, 1952
Mund, Government and Business, Ch. 21, 22
4. Government Cartels: Agriculture and Coal
W. Wilcox and W. Cochrane, Economics of American Agriculture Part VI
Readings on Agricultural Policy, Part II
C. Wilcox, Public Policy Toward Business, Ch. 15-16
VI. Anti-trust Policy
1. Early History
J. D. Clark, Federal Trust Policy
W. H. Taft, The Anti-trust Act and the Supreme Court
V. Mund, Government and Business, Ch. 10, 15, 16
H. B. Thorelli, The Federal Antitrust Policy
2. Major Dissolutions
E. Jones, Trust Problem in the United States, Ch. 18
Hale, “Trust Dissolution” in Columbia Law Review, 1940
W. S. Stevens, Industrial Combinations and Trusts, Ch. 14-15
S. Whitney, Antitrust Policies, 2 Vols.
3. Law of Conspiracy
U.S. v. Trenton Potteries, 273 U.S. 392 (1927)
F.T.C. v. Cement Institute, 68 Sup. Ct. 793 (1948)
M. Handler, T.N.E.C. Monograph 38
Report of Attorney-General’s National Committee on the Anti-trust Laws
4. Recent Decisions
U.S. v. Columbia Steel, 334 U.S. 495 (1948)
U.S. v. Aluminum Co., 148 F. (2nd) 416 (1945), 91 Fed Supp. 333 (1950)
Standard Oil v. Fed. Trade Comm., 71 Sup. Ct. 240 (1951)
E. H. Levi, “The Anti-trust Laws and Monopoly,” University of Chicago Law Journal, 1947
Economic Consequences of Some Recent Anti-trust Decisions, A.E.R., May 1949
5. Foreign Policy
F. A. McGregor, “Preventing Monopoly, — Canadian Techniques,” in Monopoly and Competition and their Regulation ed. by E. Chamberlin
C. D. Harbury and Leo Roskind, “The British Approach to Monopoly Control,” Q.J.E., 1953
M. Cohen, “Canadian Anti-trust Laws,” Canadian Bar Review, Vol. 16 (1938)
L. Reynolds, The Control of Competition in Canada
J. Jewkes, “British Monopoly Policy, 1944-56,” Law and Economics, 1958
6. Some Proposals and Issues
H. Simons, Economic Policy for a Free Society, Ch, 2, 3, 4.
C. Edwards, Maintaining Competition, esp. Ch. 4-8
The Sherman Act and the Enforcement of Competition, A.E.R., May 1918
Mund, Government and Business, Ch. 20, 24
S. C. Oppenheim, “Federal Antitrust Legislation,” Michigan Law Review, June 1952
Source: Harvard University Archives. Papers of Zvi Griliches, Box 130, Folder “Syllabi and exams, 1955-1959”.
Image Source: George Stigler (1960). University of Chicago Photographic Archive (apf1-07960). Hanna Holborn Gray Special Collections Research Center, University of Chicago Library.