Journal Article Monopoly and Competition in Europe and America Get access Tibor Scitovsky Tibor Scitovsky Stanford University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 69, Issue 4, November 1955, Pages 607–618, https://doi.org/10.2307/1881997 Published: 01 November 1955

this country. Measured by admissions to live performances of legitimate theater and music, our art consumption per head is less than a half of West Germany's and Austria's, little better than a half of Norway's and Switzerland's, and less than a third of such East European countries as Hungary, Czechoslovakia and East Germany. In a cultural center like San Francisco, the past season's more than 1.8 million admissions are very impressive when related to her 700,000 populationthey probably exceed those in any city of comparable size anywhere in the world. But when one remembers our suburban way of life and the fact that San Francisco is the downtown of 4' million Bay Area residents, then this turns out to be not quite so high a figure, more in keeping with our low national average. The American national average used in these comparisons is very approximate and subject

This general introduction to the theory of money and of balance of payments adjustment was originally published in 1969. It was the first book to pay full attention to the theory of assets: the relation of the supply of assets to the demand for holding them and the significance of asset movements for balance of payments adjustment. Written in simple language and with brevity, the book is intended for the student with a general knowledge of economics and economic institutions, but with no specialised knowledge of these topics.