A Critique of Neoclassical and Austrian Monopoly Theory

Tags: Monopoly and Competition, Other Schools of Thought

07/20/2005 Articles of Interest Dominick Armentano

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Critique of Neoclassical and Austrian Monopoly Theory, A_4.pdf

There are major and fundamental disagreements between some of the leading Austrians, and these disagreements are created by wholly different theories concerning the definition of monopoly, the origins of monopoly, and the supposed effects of monopoly on consumer sovereignty and efficient resource allocation.

References

New Directions in Austrian Economics, Louis Spardo, ed., Kansas City: Sheed Andrews and McMeel, 1979, 94-110.

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