21st Century Microeconomics

Paper Summary:

This paper reviews the microeconomic status of the 21st century and the ever-escalating goal of "bigness" in manufacture, globalization, retailing and the service industries. This new high-tech age, also known as the Computer Age, the author contends, is not a new Industrial Revolution but rather merely an expansion of it. The paper also describes the concepts of microeconomics and monopolies using examples of modern companies such as Microsoft and Wal-Mart.

From the Paper:

"Microeconomics starts with a single consumer: his wants and needs, his predictable and unpredictable buying and living habits. It moves up through the family to a specific industry, and the labor required to produce what that consumer wants to buy. Microeconomics, however, does not differentiate among the powerful, controlling industries and those just starting up, or those content to find their niche in the market-place. A perfect example, of course, is Microsoft, which, through its pioneering innovative efforts has the lion's share of the PC software market."

Sample of Sources Used:

• Baldwin, William: "Bigness and Badness" Forbes, April 17, 2006 v177 i8
• Dewey, Donald: Microeconomics: The Analysis of Prices and Markets (1997) New York: Oxford University Press
• Nissim, Gail: "State, monopolies, cartels control 70% of building inputs" Israel Business Arena, April 2, 2006
• Piazza, Peter: "Bullying the Monopoly" Arflington VA: Security Management. : Dec 2003.Vol.47, Iss. 12;
• Sagner,James S. "Antitrust as Frontier Justice: Is It Time to Retire the Sheriff? New York: Business and Society Review. : Spring 2006. Vol.111, Iss. 1;

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