This is a part of an interview on EconTalk to Donald Boudreaux about market failure. This excerpt deals with antitrust policies.
To read more information: http://www.econtalk.org/arc...
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This is a part of an interview on EconTalk to Donald Boudreaux about market failure. This excerpt deals with antitrust policies.
Armentano has published some very good works on this issue. He says that the same things (as Donald says about beef and firms in the late 19th century) could be said for Microsoft case, or other cases.
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If one employs the same logic which reasons that "war = peace" and "stupid = smart", then sure, the video makes sense. Otherwise, it's what known in the real world as "bullshit".
Unfortunately, this message has a tough row to hoe, because everyone is convinced (against all the evidence) that without interference, capitalism will result in monopolization of every market sector. Who is teaching people this, and how soon can we put them in jail for crimes against humanity??
If somebody showed me a monopoly not created through government interference (in other words, a "natural" monopoly created through the free market) then I would consider anti-trust laws.
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