The 1968 Neal Report: An Introduction and Reprint

Herbert Hovenkamp, Apr 30, 2009

Reading the Neal Report today is a trip to another world. But, in fact, it represented the received orthodoxy of its day. The tragedy of the Neal Report is that the model it represented was just on the verge of complete, catastrophic replacement. The views expressed there reflected the culmination of thirty years of industrial organization thinking that we today identify as the structure-conduct-performance (S-C-P) paradigm. Indeed, the publication of the Neal Report played no small part in instigating a massive reaction among younger academics that eventuall…

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