Monopoly and Competition

Government attempts to limit “monopoly power” cannot improve well-being.

The ruling class is claiming that free markets are nothing more than a "trickle-down" scheme. But a free market system really does serve society best.

The ruling class is claiming that free markets are nothing more than a "trickle-down" scheme. But a free market system really does serve society best.

One of the most controversial areas in Austrian economics, and one where even long-established Austrian theorists differ sharply, is monopoly theory.

Much of what we might call monopoly capitalism (or crony capitalism) can be tied to intellectual property laws.

Present-day prophets of a united Europe share with past conquerors like Napoleon and Hitler a strong preference for a society directed, more or less violently, by a small political elite. All in the name of "eternal peace." 

Presented at Mises University 2021.

Presented at Mises University 2021.

Böhm-Bawerks was a brilliant economist, and we must also remember his example as a principled man of uncompromising integrity who in the political arena unswervingly fought for freedom and free markets.

Once the economics profession embraced the "perfect" competition theory which, as Hayek has said, means "the absence of all competitive activities," it also embraced antitrust regulation.