Monopoly and Competition

Presented at the Mises Institute's "First Annual Advanced Instructional Conference in Austrian Economics" at Stanford University.

The actual policies that labor unions have systematically followed from the beginning of their existence have in fact reduced the real wages of the workers as a whole below what they would otherwise have been.

 The reason PG&E can get away with such outrageous mismanagement is that the California government literally guarantees them their business.

In times of massive and frequent technological improvement, it would be sheer waste for manufacturers to dump resources into making products last past their usefulness.

Presented at Mises University 2019.

Presented at Mises University 2019.

Natural constraints on firm size are numerous, and in a truly free market, large firms would be constantly prone to being broken up and put out of business by competition. And all to often, huge firms become more long-lived due to government intervention.

There is almost no economic problem, real or imagined, that cannot be made worse by inappropriate government regulation. Antitrust is no exception.

Competition and cooperation and not two things in conflict. They are both essential ingredients in a society based on voluntary action instead of violence.

Throughout American history, politicians have incessantly awarded preferential policies (e.g., “corporate welfare”) to special interests that has allowed them to create monopolies dominating virtually every major market.