Introduction to Microeconomics

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10. Government Cartels

  • Introduction to Micro

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02/11/2010Murray N. Rothbard

The only cartels that have lasted have been government cartels. There is no essential difference between a cartel and an ordinary corporation or partnership. Not even the De Beers cartel is all powerful. The South African government nationalizes all land upon which diamonds are discovered. The government only licenses De Beers to work the mines; they shoot others. New York cabs are cartels. Farm price supports are cartelized agriculture.

Part 10 of 14. Presented in 1986 at New York Polytechnic University.


Murray N. Rothbard

Murray N. Rothbard made major contributions to economics, history, political philosophy, and legal theory. He combined Austrian economics with a fervent commitment to individual liberty.

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