Protectionist Origins of Antitrust (by Thomas DiLorenzo)
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did he just say the 'kid' he got to read his stuff, was blind because of the old microfilm tech? ... :S
but in any case, an excellent lecture..
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@farber2 first, it is highly unlikely they'll ever get there... that is like saying, if someone buys all the houses we won't have anywhere to live. ..
but anyway. even if they did take the full share, people will just step in as soon as they become too ineffcient.. infact, any ineffciency will suffice.. read 'economics in one less' by hazlitt. read amazon reviews, it is one of the best intro's ever into economics.
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A freely competitive market will not allow monopolies, they are the result of government intervention to legitimize cartels. Read Rothbard, he is the best source of truth on this topic.
1 year ago 3
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Yup, and they can set the price so high, that it becomes profitable for me to start a new oil company and under cut them
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Bull! If citi bank is the only bank and it fails, one has a golden opportunity to start a new bank and gain a market share.
2 years ago 3
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so if exxon is the only oil company, then they can set the price. If citi bank is the only bank, and it fails, it takes america down with it.
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Nailed it as usual. Facts are stubborn things, too bad to politicians and ill-informed citizens they just don't matter.
lizardman77 3 years ago 6
as for exxon, we saw what happens when oil prices reach $4 a gallon, demand decreases, a surplus is created, and prices fall. Plus, define a sector narowly enough and anything is a monopoly. Exxon competes with other forms of transportation (e.g. bike, biodiesel fueled vehicles, telecommute).
HiFiSmith 2 years ago 5