Monopoly and Competition

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.

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

"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."

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.

Presented by Rothbard at New York Polytechnic University in 1972.

In order for anyone to make ethical judgments, he must know the consequences of his various actions. In questions of union actions displacement or unemployment for oneself or others will be considered unfortunate by most people.

The words monopoly and competition have been changed. Competition meant rivalry or competing, either active or potential.  Businesses do not like this. Monopoly meant a grant of privilege by the government. It now means falling demand curve.