Monopoly and Competition

Neoclassical economists have a rigid view of monopoly producers. Austrians recognize that the only monopolies that create problems have been nurtured by government intervention.

Government attempts to limit “monopoly power” cannot improve well-being.

The ruling class is claiming that free markets are nothing more than a "trickle-down" scheme. But a free market system really does serve society best.

The ruling class is claiming that free markets are nothing more than a "trickle-down" scheme. But a free market system really does serve society best.

One of the most controversial areas in Austrian economics, and one where even long-established Austrian theorists differ sharply, is monopoly theory.

Much of what we might call monopoly capitalism (or crony capitalism) can be tied to intellectual property laws.

Present-day prophets of a united Europe share with past conquerors like Napoleon and Hitler a strong preference for a society directed, more or less violently, by a small political elite. All in the name of "eternal peace." 

Presented at Mises University 2021.

Presented at Mises University 2021.

Böhm-Bawerks was a brilliant economist, and we must also remember his example as a principled man of uncompromising integrity who in the political arena unswervingly fought for freedom and free markets.