Monopoly and Competition

Austrian critique of mainstream analysis of monopoly, monopsony, and perfect competition; the logical contradictions of anti-trust law.

"The direction of the future, of progress, is towards more abundance and prosperity and wealth. It is obscene to undermine the glorious operation of the market in producing wealth and abundance by imposing artificial scarcity on human knowledge and learning."

Recorded at Mises University 2010. Includes an introduction by Mark Thornton.

A proper solution to the taxicab crisis is not to co-opt the movement of gypsy cab drivers by the offer to take them into the system, but rather to

With so many state governments’ budgets now under severe strain, there are serious discussions about how to cut state funding to public educa

If monopoly companies for specific products or specific areas of trade were good, reasoned François du Noyer, sieur de Saint-Martin, why not go one

The Royal Company was at last dead, stillborn, and old du Noyer's loss was the French public's gain.

The system of mercantilism needed no high-flown “theory” to get launched.

That will give the FTC far greater power to block mergers than the statutory text or Supreme Court precedents permit.

"It is vain, however, to call simply for clearer statutory definitions of monopolistic practice. For the vagueness of the law results from the impossibility of laying down a cogent definition of monopoly on the market."