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Arthur Robert Burns (1895 – 1981) was a British-born American economist, best known for his influential work The Decline of Competition: A Study of the Evolution of American Industry (1936). He was a prominent figure in the field of industrial organization and made significant contributions to the understanding of market structures, business cycles, and economic planning. He spent the majority of his academic career at Columbia University.

Arthur Robert Burns was born in London, England. He received his early education in England and attended the London School of Economics (LSE), where he earned a B.Sc. (Econ.) in 1920 and a Ph.D. in Economics in 1926. At LSE, he was exposed to leading economists and the Fabian socialist tradition, which influenced his critical perspective on unregulated capitalism. His doctoral dissertation was titled "Money and Monetary Policy in Early Times."

After completing his doctorate, Burns emigrated to the United States.

He began his American academic career at Columbia University in 1928, where he would spend the vast majority of his professional life. He rose through the ranks, becoming a full professor of economics.
During World War II, Burns served in various government capacities, including with the Office of Price Administration (OPA) and the Foreign Economic Administration. This practical experience with economic planning and regulation informed his later academic work.
After the war, he returned to Columbia University, where he continued to teach and write until his retirement in 1963. He was known as a dedicated teacher and mentor.

Arthur R. Burns's work focused primarily on the structure of modern industry, the nature of competition, and the implications for economic performance and policy.

The Decline of Competition (1936):
- This was his magnum opus and a landmark study in industrial organization. In this meticulously researched book, Burns argued that the nature of competition in American industry had fundamentally changed from the classical model of numerous small firms competing primarily on price.
- He documented the rise of large corporations, oligopolistic market structures, product differentiation, advertising, trade associations, and various forms of non-price competition.
- Burns contended that these developments led to a "decline of competition" in the traditional sense, resulting in more rigid prices, administered pricing by dominant firms, and a reduced responsiveness of the economy to market forces.
- The book was influential in shaping the understanding of modern industrial capitalism and contributed to the intellectual climate that supported greater government regulation of business. It was a key text in the "structure-conduct-performance" paradigm that dominated industrial organization for decades.

Business Cycles and Economic Instability:
- Burns was also interested in the causes and consequences of business cycles. His work on industrial structure had implications for understanding economic instability, as he argued that the rigidities introduced by declining competition could exacerbate cyclical fluctuations.
- He explored how the behavior of large firms and organized industries affected the overall stability of the economy.

Economic Planning and Regulation:
- Given his analysis of the changing nature of competition and his wartime experience, Burns was open to the idea of greater economic planning and government intervention to address the perceived shortcomings of unregulated markets.
- He explored the potential roles of government in stabilizing the economy, regulating monopolies and oligopolies, and promoting social welfare. However, he was also aware of the complexities and potential pitfalls of centralized planning.

Comparative Economic Systems:
- Later in his career, Burns also wrote on comparative economic systems, examining the different ways societies organized their economic activities.

Burns's work was characterized by:

Institutionalism: While not strictly an institutionalist in the vein of Thorstein Veblen, his approach was heavily institutional, emphasizing the role of specific market structures, business practices, and legal frameworks in shaping economic outcomes.
Empirical Research: The Decline of Competition was based on extensive empirical research and detailed case studies of various industries.
Historical Perspective: He often adopted a historical perspective, tracing the evolution of industrial structures and competitive practices over time.

Arthur R. Burns was a significant figure in American economics, particularly in the field of industrial organization.

The Decline of Competition had a profound impact on academic thought and public policy discussions regarding antitrust and regulation for several decades. It provided a powerful analytical framework for understanding the modern corporation and its market power.
His work contributed to a more realistic and nuanced understanding of competition than that offered by simple classical models.
While some of the specific conclusions of The Decline of Competition were later challenged or modified by subsequent research (e.g., by the Chicago School's emphasis on efficiency and contestable markets), the book remains a classic study of industrial evolution.

It is important to distinguish Arthur Robert Burns from Arthur F. Burns (1904–1987), another prominent economist who served as Chairman of the Federal Reserve. They were contemporaries but had different areas of primary focus, though both were at Columbia University for periods.

Arthur Robert Burns died in 1981.

1926: Money and Monetary Policy in Early Times. London: Kegan Paul, Trench, Trubner & Co.; New York: Alfred A. Knopf. (Based on his Ph.D. dissertation).
1936: The Decline of Competition: A Study of the Evolution of American Industry. New York: McGraw-Hill Book Company.
1948: (with Eveline M. Burns and others) The American Social Security System. Boston: Houghton Mifflin. (Arthur R. Burns contributed chapters, though Eveline M. Burns, his wife and a prominent economist of social security, was the primary author/editor).
1954: Comparative Economic Development. New York: Prentice-Hall. (This work is sometimes cited, though The Decline of Competition remains his most recognized contribution).

He also authored various articles and reviews in economic journals

Arthur Robert Burns (1895 – 1981) was a British-born American economist, best known for his influential work The Decline of Competition: A Study of the Evolution of American Industry (1936). He was a prominent figure in the field of industrial organization and made significant contributions to the understanding of market structures, business cycles, and economic planning. He spent the majority of his academic career at Columbia University.

Arthur Robert Burns was born in London, England. He received his early education in England and attended the London School of Economics (LSE), where he earned a B.Sc. (Econ.) in 1920 and a Ph.D. in Economics in 1926. At LSE, he was exposed to leading economists and the Fabian socialist tradition, which influenced his critical perspective on unregulated capitalism. His doctoral dissertation was titled "Money and Monetary Policy in Early Times."

After completing his doctorate, Burns emigrated to the United States.

He began his American academic career at Columbia University in 1928, where he would spend the vast majority of his professional life. He rose through the ranks, becoming a full professor of economics.
During World War II, Burns served in various government capacities, including with the Office of Price Administration (OPA) and the Foreign Economic Administration. This practical experience with economic planning and regulation informed his later academic work.
After the war, he returned to Columbia University, where he continued to teach and write until his retirement in 1963. He was known as a dedicated teacher and mentor.

Arthur R. Burns's work focused primarily on the structure of modern industry, the nature of competition, and the implications for economic performance and policy.

The Decline of Competition (1936):
- This was his magnum opus and a landmark study in industrial organization. In this meticulously researched book, Burns argued that the nature of competition in American industry had fundamentally changed from the classical model of numerous small firms competing primarily on price.
- He documented the rise of large corporations, oligopolistic market structures, product differentiation, advertising, trade associations, and various forms of non-price competition.
- Burns contended that these developments led to a "decline of competition" in the traditional sense, resulting in more rigid prices, administered pricing by dominant firms, and a reduced responsiveness of the economy to market forces.
- The book was influential in shaping the understanding of modern industrial capitalism and contributed to the intellectual climate that supported greater government regulation of business. It was a key text in the "structure-conduct-performance" paradigm that dominated industrial organization for decades.

Business Cycles and Economic Instability:
- Burns was also interested in the causes and consequences of business cycles. His work on industrial structure had implications for understanding economic instability, as he argued that the rigidities introduced by declining competition could exacerbate cyclical fluctuations.
- He explored how the behavior of large firms and organized industries affected the overall stability of the economy.

Economic Planning and Regulation:
- Given his analysis of the changing nature of competition and his wartime experience, Burns was open to the idea of greater economic planning and government intervention to address the perceived shortcomings of unregulated markets.
- He explored the potential roles of government in stabilizing the economy, regulating monopolies and oligopolies, and promoting social welfare. However, he was also aware of the complexities and potential pitfalls of centralized planning.

Comparative Economic Systems:
- Later in his career, Burns also wrote on comparative economic systems, examining the different ways societies organized their economic activities.

Burns's work was characterized by:

Institutionalism: While not strictly an institutionalist in the vein of Thorstein Veblen, his approach was heavily institutional, emphasizing the role of specific market structures, business practices, and legal frameworks in shaping economic outcomes.
Empirical Research: The Decline of Competition was based on extensive empirical research and detailed case studies of various industries.
Historical Perspective: He often adopted a historical perspective, tracing the evolution of industrial structures and competitive practices over time.

Arthur R. Burns was a significant figure in American economics, particularly in the field of industrial organization.

The Decline of Competition had a profound impact on academic thought and public policy discussions regarding antitrust and regulation for several decades. It provided a powerful analytical framework for understanding the modern corporation and its market power.
His work contributed to a more realistic and nuanced understanding of competition than that offered by simple classical models.
While some of the specific conclusions of The Decline of Competition were later challenged or modified by subsequent research (e.g., by the Chicago School's emphasis on efficiency and contestable markets), the book remains a classic study of industrial evolution.

It is important to distinguish Arthur Robert Burns from Arthur F. Burns (1904–1987), another prominent economist who served as Chairman of the Federal Reserve. They were contemporaries but had different areas of primary focus, though both were at Columbia University for periods.

Arthur Robert Burns died in 1981.

1926: Money and Monetary Policy in Early Times. London: Kegan Paul, Trench, Trubner & Co.; New York: Alfred A. Knopf. (Based on his Ph.D. dissertation).
1936: The Decline of Competition: A Study of the Evolution of American Industry. New York: McGraw-Hill Book Company.
1948: (with Eveline M. Burns and others) The American Social Security System. Boston: Houghton Mifflin. (Arthur R. Burns contributed chapters, though Eveline M. Burns, his wife and a prominent economist of social security, was the primary author/editor).
1954: Comparative Economic Development. New York: Prentice-Hall. (This work is sometimes cited, though The Decline of Competition remains his most recognized contribution).

He also authored various articles and reviews in economic journals

Arthur Robert Burns (1895 – 1981) was a British-born American economist, best known for his influential work The Decline of Competition: A Study of the Evolution of American Industry (1936). He was a prominent figure in the field of industrial organization and made significant contributions to the understanding of market structures, business cycles, and economic planning. He spent the majority of his academic career at Columbia University.

Arthur Robert Burns was born in London, England. He received his early education in England and attended the London School of Economics (LSE), where he earned a B.Sc. (Econ.) in 1920 and a Ph.D. in Economics in 1926. At LSE, he was exposed to leading economists and the Fabian socialist tradition, which influenced his critical perspective on unregulated capitalism. His doctoral dissertation was titled "Money and Monetary Policy in Early Times."

After completing his doctorate, Burns emigrated to the United States.

He began his American academic career at Columbia University in 1928, where he would spend the vast majority of his professional life. He rose through the ranks, becoming a full professor of economics.
During World War II, Burns served in various government capacities, including with the Office of Price Administration (OPA) and the Foreign Economic Administration. This practical experience with economic planning and regulation informed his later academic work.
After the war, he returned to Columbia University, where he continued to teach and write until his retirement in 1963. He was known as a dedicated teacher and mentor.

Arthur R. Burns's work focused primarily on the structure of modern industry, the nature of competition, and the implications for economic performance and policy.

The Decline of Competition (1936):
- This was his magnum opus and a landmark study in industrial organization. In this meticulously researched book, Burns argued that the nature of competition in American industry had fundamentally changed from the classical model of numerous small firms competing primarily on price.
- He documented the rise of large corporations, oligopolistic market structures, product differentiation, advertising, trade associations, and various forms of non-price competition.
- Burns contended that these developments led to a "decline of competition" in the traditional sense, resulting in more rigid prices, administered pricing by dominant firms, and a reduced responsiveness of the economy to market forces.
- The book was influential in shaping the understanding of modern industrial capitalism and contributed to the intellectual climate that supported greater government regulation of business. It was a key text in the "structure-conduct-performance" paradigm that dominated industrial organization for decades.

Business Cycles and Economic Instability:
- Burns was also interested in the causes and consequences of business cycles. His work on industrial structure had implications for understanding economic instability, as he argued that the rigidities introduced by declining competition could exacerbate cyclical fluctuations.
- He explored how the behavior of large firms and organized industries affected the overall stability of the economy.

Economic Planning and Regulation:
- Given his analysis of the changing nature of competition and his wartime experience, Burns was open to the idea of greater economic planning and government intervention to address the perceived shortcomings of unregulated markets.
- He explored the potential roles of government in stabilizing the economy, regulating monopolies and oligopolies, and promoting social welfare. However, he was also aware of the complexities and potential pitfalls of centralized planning.

Comparative Economic Systems:
- Later in his career, Burns also wrote on comparative economic systems, examining the different ways societies organized their economic activities.

Burns's work was characterized by:

Institutionalism: While not strictly an institutionalist in the vein of Thorstein Veblen, his approach was heavily institutional, emphasizing the role of specific market structures, business practices, and legal frameworks in shaping economic outcomes.
Empirical Research: The Decline of Competition was based on extensive empirical research and detailed case studies of various industries.
Historical Perspective: He often adopted a historical perspective, tracing the evolution of industrial structures and competitive practices over time.

Arthur R. Burns was a significant figure in American economics, particularly in the field of industrial organization.

The Decline of Competition had a profound impact on academic thought and public policy discussions regarding antitrust and regulation for several decades. It provided a powerful analytical framework for understanding the modern corporation and its market power.
His work contributed to a more realistic and nuanced understanding of competition than that offered by simple classical models.
While some of the specific conclusions of The Decline of Competition were later challenged or modified by subsequent research (e.g., by the Chicago School's emphasis on efficiency and contestable markets), the book remains a classic study of industrial evolution.

It is important to distinguish Arthur Robert Burns from Arthur F. Burns (1904–1987), another prominent economist who served as Chairman of the Federal Reserve. They were contemporaries but had different areas of primary focus, though both were at Columbia University for periods.

Arthur Robert Burns died in 1981.

1926: Money and Monetary Policy in Early Times. London: Kegan Paul, Trench, Trubner & Co.; New York: Alfred A. Knopf. (Based on his Ph.D. dissertation).
1936: The Decline of Competition: A Study of the Evolution of American Industry. New York: McGraw-Hill Book Company.
1948: (with Eveline M. Burns and others) The American Social Security System. Boston: Houghton Mifflin. (Arthur R. Burns contributed chapters, though Eveline M. Burns, his wife and a prominent economist of social security, was the primary author/editor).
1954: Comparative Economic Development. New York: Prentice-Hall. (This work is sometimes cited, though The Decline of Competition remains his most recognized contribution).

He also authored various articles and reviews in economic journals