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7. The Myth of Natural Monopoly

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06/08/2006Thomas J. DiLorenzo

This second myth about market failure is again a call for interventionism and support for bigger government. Natural monopolies don’t exist. The theory was made up after the fact. The only monopolies existing are those propped up by government privilege.

It took the economics profession about sixty years to look closely at the facts behind regulated monopolies like AT&T and competition.

Lecture 7 of 10 from the Steven Berger Seminar: Thomas DiLorenzo on Liberty and American Civilization.

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Contact Thomas J. DiLorenzo

Thomas DiLorenzo is professor of economics at Loyola University Maryland and a member of the senior faculty of the Mises Institute. He is the author of The Real Lincoln; How Capitalism Saved America; Lincoln Unmasked; Hamilton's Curse; Organized Crime: The Unvarnished Truth About Government; and The Problem with Socialism.

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