Abstract:
This thesis is the result of an endeavour to investigate, observe and record as a case study the genesis, growth and patterns of operation of an entirely new 'industry' (in terms of process and product); and to consider how far the convenient simplifications and assumptions of economic theory, and of value theory in particular, are appropriate or useful in approaching the study. See W. Fellner, "Competition Among the Few" (Knopf) 1949 p.4 as to the need for such case studies in oligopolistic industries. Also see J.S. Bain, "Price and Production Policies" in "A Survey of Contemporary Economics" (Blakiston) 1949 p. 142-149 for an outline of the contributions of empirical industry studies.