Although bits and pieces of "Competition as a Discovery Procedure" began to appear in English as early as the 1970s, the translator discovered that, by the time he assumed emeritus status in 1998, no full translation of the original 1968 Kiel version was yet extant.
Cartels, characterized by activities such as simultaneous price increases or decreases, or virtual price identity at almost the same time, without explicit communications or agreements, have long been discussed.
Austrianism is far more receptive to business and private enterprise than Marxism, and it certainly exceeds neoclassical economics in this regard. In terms of the phenomenon with which we have been concerned
The substitution of a monopoly price for a competitive price is tantamount to a serious restriction of the working of the most characteristic principle of the free enterprise system, i.e., of the sovereignty of the consumers.
One is not intellectually free to use the neoclassical theory of the firm at one time to explain economic action, and to discard it at another. If the theory of the firm does not apply in all explanations of firm behavior
The author explores during a lecture that all antitrust regulation is economically inefficient and morally wrong and all of it—the laws and the enforcement agencies—should be thrown out.
When government monopolization of the roadways is discussed by economists, the “externalities” argument is usually raised.
As every honest man knows, crime doesn’t pay. Our main problem is that apparently no one has yet told the criminals.
The inflation which seems to have become endemic to much of the world, along with the perception that the prime culprits are the monopolistic issue
Given the temper of the times it was surprising that following the American Revolution there appeared proposals for national systems of education.
