4 ms·

Agreed. I have been looking now for a while for a rigorous treatment of how to deal with monopoly-related problems (hopefully this would be a summary of the cur

• whatevsbro 12y ago
  > I have been looking now for a while for a rigorous treatment of how to deal with monopoly-related problems http://mises.org/rothbard/mes/chap10a.asp http://mises.org/rothbard/mes/chap10a.asp there are two, and only two, ways to settle what the prices of goods will be. One is the way of the free market, where prices are set voluntarily by each of the participating in­dividuals. In this situation, exchanges are made on terms bene­fiting all the exchangers. The other way is by violent interven­tion in the market, the way of hegemony as against contract. Such hegemonic establishment of prices means the outlawing of free exchanges and the institution of exploitation of man by man—for exploitation occurs whenever a coerced exchange is made. If the free-market route—the route of mutual benefit—is adopted, then there can be no other criterion of justice than the free-mar­ket price, and this includes alleged “competitive” and “monop­oly” prices, as well as the actions of cartels. In the free market, consumers and producers adjust their actions in voluntary co­operation.
• rcthompson 12y ago
  Haha, no, I'm not. I only have a 1-year undergrad intro econ course plus a mathematics degree and my own intuition. I don't think I've actually read any primary literature in the econ field, only my textbook (and not much of that, either!).