2008/05/19 by Manuela Mosca · 1 citation
Economics, Econometrics and Finance · Social Sciences · #Economic Theory and Institutions #Political Economy and Marxism #Economic Theory and Policy
paper · doi:10.1080/09672560802037623
openalex publication_date 2008/05/19 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/29
The present article contributes to the history of the concept of natural monopoly, focusing on the reconstruction of its origins. The paper considers various facets of natural monopoly: the expression itself; the singling out of the concrete situations to which it is applied; the inquiry into economies of scale; the consideration of their incompatibility with perfect competition; the drawing of the diagram; and the need for government intervention. In this paper each of the above features is separately examined from a historical perspective. Priorities and influences are then traced, and in particular it is found that the pivotal figure in this historical reconstruction is that of Edgeworth. The relation of the concept of natural monopoly with that of competition is also highlighted, as well as its policy implications.