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A Critique of Neoclassical and Austrian Monopoly Theory

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Tags Monopoly and CompetitionOther Schools of Thought

07/20/2005Dominick Armentano

There are major and fundamental disagreements between some of the leading Austrians, and these disagreements are created by wholly different theories concerning the definition of monopoly, the origins of monopoly, and the supposed effects of monopoly on consumer sovereignty and efficient resource allocation.

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References

 New Directions in Austrian Economics, Louis Spardo, ed., Kansas City: Sheed Andrews and McMeel, 1979, 94-110.