K21 - Antitrust LawReturn

The article describes when and in what form the term “monopoly” appeared in theory. First, attention is paid to A. Smith’s classical political economy and the neoclassical binary model of competition and monopoly presented by A. Marshall. Robinson’s model of imperfect competition and Chamberlin’s model of monopolistic competition of 1933 were turning points in economic theory. The article not only highlights the elements that were adopted from Marshall and Pigou of the Cambridge Neoclassical School and are common to both theories, but also emphasizes the aspects in which the approaches of Robinson and Chamberlin differ and highlights their contribution to economic theory and competition law.