of various states to decide where to locate. If true, this would generate tax competition between states. Firms will locate in one state over another to take not based on market conditions but on distorted prices due to state incentive policies. One should recall the famous “Lesson” of Henry Hazlitt: what economic
insurance, something that will certainly drive up its costs and make it less competitive compared to unionized stores. The ultimate goal is to get the company to up grocery prices—all in the “public interest,” of course. As long as there is competition by the superior, nonunion grocery stores, the unionized stores cannot essentially the same outcome. In either case, it is a patently anti-consumer policy that can only harm the employees of the “targeted” company. The whole idea of
to go to the pharmacy, where we pay prices outrageously inflated by the lack of competition made possible by the government grant of privilege called the patent. In we have here is the usual combination of graft and political payoffs called public policy. Of course prices will rise, which is what happens when something is
low, and there are no physical barriers to entry--the textbook ideal of “perfect competition.” And yet we don’t see hundreds and thousands of firms of equal size. in no position to “exploit” their size. If they let up in their service or pricing policies, their stock price falls and consumers go elsewhere. The consumer is
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.