Monopoly and Competition

Recorded at Mises University 2005.

The Austrians view is that monopoly came about as privilege, usually granted by royalty, given to a particular person or industry. This process is arbitrary and capricious. Free entry is required in capitalism. There cannot be restrictions on entry, as with doctors.

Price, quantity, profit, and deadweight loss are four criticisms of monopolies.

Dominick T. Armentano Antitrust Reform: Predatory Practices and the Competitive Process Acrobat Distiller 7.0.5 (Windows)

From The Review of Austrian Economics Vol. 26, No. 2, 1993.

Thomas J. DiLorenzo VENTURA Acrobat 3.0 Import Plug-in

Encyclopedia of Law and Economics, Northampton, MA: Edward Elgar

Insider trading per se is obtaining information from non-public sources and using it for purposes of enhancing one's financial advantage. Is there anything unethical or morally wrong in this exercise?

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

The Foundations of Modern Austrian Economics, Edwin G.

Published in the Cato Journal Vol. 19, No. 2, 1999.