Monopoly and Competition | Thomas J. DiLorenzo

Presented by Thomas DiLorenzo at the 2009 Mises University. Recorded 28 July 2009 at the Ludwig von Mises Institute; Auburn, Alabama.

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[PanzerDivisionBOM]

There's this joke about antitrust that I find hilarious:

"Three businessmen are sitting in jail, and they get to discussing their crimes.

'I charged lower prices than anyone else, so they accused me of cutthroat competition, and threw me in here!'

'I charged higher prices than the norm, and they locked me up for price-gouging!'

'Really? Because I charged the same price as everyone else, and they found me guilty of collusion and cartelization...'"

[vorbeigehende]

up is down, black is white, smart is stupid, Paul Krugman is an economist

[MrJamesBP]

@swu880

It isn't a comment on his knowledge...it's a comment on his presentation. I find these types of lectures to be less enjoyable when the speaker is constantly quoting other people. No need to take it personal...It wasn't meant to be insulting. In fact, as I said, I found the talk to be very informative....as we say in Québec "on se calme le bacon" ("Let's relax the bacon"...roughly meaning "chill out")

[swu880]

@swu880

When u speak about total misconceptions & fallacies propagated through history as most economic fallacies are(ie 'the myth of natural monopoly), its most helpful to use direct quotes especially from the papers & people of the time.

Lorenzo does a fabulous job here in the span of an hour.

But sadly many people who are economically illiterate would require several months of studious reading & critical thinking in order to even understand this stuff

[swu880]

@MrJamesBP

uh in what way was it excessive??? Lorenzo is merely presenting an in depth analysis of competition, monopolies & the REAL history behind it. So aint it logical that one would buttress his position with direct quotes from the various people- especially of the past when tryin to debunk the misconceptions & falsehoods of the history?

[MrJamesBP]

The speaker is obviously very knowledgeable on the subject. I managed to learn a lot about the Austrian view on competition.That being said, I wish he did a little less quoting. I though it was a little excessive.

[coturnix19]

@rumco so do I; in fact, piracy helps microsoft to sustain its monopolistic position through vendor lock-in. basically, they've gotta love it. Only on home pc market they are monopoly, notice how professional markets are much more diverse. And still, they seem to suck more and more every day.. it is like they are rotting from inside...

[coturnix19]

@vorbeigehende now that's the obamination ! al gore at least was given the prize for doing something (chasing manbearpig), but obama...

[vorbeigehende]

@kotash2

you forgot Obama has a nobel prize too

[kotash2]

you forgot Krugman has a nobel prize!

[rumco]

Some people may argue that Microsoft has a monopoly through IP. However, I too feel that Microsoft has no monopoly and people choose to buy their products voluntarily, I chose Linux.

[Loserido]

Are you referring to the work on Lincoln or Hamilton? if Hamilton then I'm inclined to agree.