Winners, Losers, and Microsoft: Competition and Antitrust in High Technology by Stan J. Liebowitz and Stephen E. Margolis Oakland, California: The Independent Institute , 1999 Reviewed by TIMOTHY D. TERRELL School of Business and Government Liberty University, 1971 University Blvd., Lynchburg, VA 24502 Having suffered the destruction of key
Distinguishing innovation from chicanery is not always easy, particularly when a market is developing much faster than the average consumer will gather information about it. The market for digital currencies is one of those markets. Publicized failures of new gold-based currencies make it more difficult for others who have viable plans for new
For decades, millions of American workers have made themselves more attractive to their employers by formally agreeing to keep any future disputes outside the court system. These increasingly popular arbitration agreements replace the high costs of a court case with the speedier and less expensive arbitration process. Some scholars have also
It is one of the most common tragedies of human history: a region populated by relatively defenseless farmers is set upon by a gang of well-armed bandits, who force the farmers off their land and divide the land and spoils among themselves. In 1893, the tragedy had come to Zimbabwe, and the gang of well-armed bandits were British settlers led by
Some of the most common arguments advanced against the price system are those based on religious faith. In fact, all forms of statism can be tied to some form of faith. It may be a faith in a human being, or committee of human beings. Certainly, socialism requires a great deal of faith in the abilities of central planners to collect relevant,
Some U.S. home builders are facing one of the many disagreeable side-effects of the military occupation of Iraq—higher costs of lumber. In a lumber market where shortages were already appearing, the Defense Logistics Agency suddenly ordered more than 20 million square-feet of plywood sheeting for construction in Iraq. Markets for plywood and its
In the past half century, as unions in the U.S. workforce have seen their numbers dwindling, especially within private companies, American university faculties have been a virtual “amen chorus” for organized labor. According to those denizens of higher education, labor unions can do no wrong, as they “fight” for the “rights of working people.”
As of this writing, the death toll from the south Asian tsunami has reached 120,000, with concerns that disease may claim tens of thousands more. The countries affected include some of the poorest in the world, and as the tragedy unfolds, the economic loss promises to be devastating. Many have noticed that poorer nations are more severely affected
Introduction The Independence of Capital Productivity “Capital Workers” Independent Productivity in Nature Labor’s Income Share Binary Economics on Savings and Consumption “Sterile” Savings Binary Economics and Say’s Law The “General Theory” Diagram Binary Economics, Property Rights, and Freedom Conclusion References Notes Binary economics is a
Entrepreneurs are in a danger zone when their activities are incomprehensible to the general public. Profits that appear without obvious explanation are suspect, and the entrepreneur is likely to find public hostility accompanying the suspicion. Entrepreneurs who assemble physical objects may find their activities transparent enough to avoid the
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.