Monopoly and Competition

A proper solution to the taxicab crisis is not to co-opt the movement of gypsy cab drivers by the offer to take them into the system, but rather to

With so many state governments’ budgets now under severe strain, there are serious discussions about how to cut state funding to public educa

If monopoly companies for specific products or specific areas of trade were good, reasoned François du Noyer, sieur de Saint-Martin, why not go one

The Royal Company was at last dead, stillborn, and old du Noyer's loss was the French public's gain.

The system of mercantilism needed no high-flown “theory” to get launched.

"It is vain, however, to call simply for clearer statutory definitions of monopolistic practice. For the vagueness of the law results from the impossibility of laying down a cogent definition of monopoly on the market."

That will give the FTC far greater power to block mergers than the statutory text or Supreme Court precedents permit.

China in the formative centuries developed protoanarchistic ideas. The total, unsystematic application of those ideas created a system as rigid, as formalistic and tyrannical, as any we have today.

Although I have tried in this article to show how discussions of competition may be prevented from being misleading, it may often be best to emphasize instead the cooperation of the market, for this is the more fundamental feature of a capitalist order, and this is what competition on the free market promotes.

Competition is a process of the formation of opinion: by spreading information, it creates that unity and coherence of the economic system which we presuppose when we think of it as one market.