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The Theory of the Black Market: Further Considerations

Published online by Cambridge University Press:  07 November 2014

A. F. W. Plumptre
A. F. W. Plumptre*
Affiliation:
Toronto
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Type
Notes and Memoranda
Information
Canadian Journal of Economics and Political Science/Revue canadienne de economiques et science politique , Volume 13 , Issue 2 , May 1947 , pp. 280 - 282
Copyright
Copyright © Canadian Political Science Association 1947

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References

1 This Journal, vol. XIII, no. 1, Feb., 1947, p. 115.

2 Since this note was written I have read the article by Mr.Bronfenbrenner, on “Price Control under Imperfect Competition” in the American Economic Review, vol. XXXVII, no. 1, 03, 1947 Google Scholar, especially section II. Mr. Boulding writes about a competitive market, while Mr. Bronfenbrenner writes about a firm in imperfect competition. Nevertheless, the following remark of the latter seems relevant: the black market price “will usually exceed … the uncontrolled imperfectly competitive price … to say nothing of the hypothetical ‘competitive’ price …” (p. 112).