Monopoly and Competition

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Philipp Bagus

Economists have long tried to use the idea of "public goods" as justification for a wide variety of government interventions. But there is no objective measure for what's a public good and what's not.

Frank Shostak

The whole idea of government regulating so-called monopolies in order to promote competition is based on fallacies. If anything, such intervention only stifles market competition and lowers living standards.