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Market Power

MARCH 11, 2013

When one buyer or seller in a market has the ability to exert significant influence over the quantity of goods and services traded or the price at which they are sold.

Mark Hendrickson - The Truth About Monopoly and Antitrust

Ivan Pongracic - Monopoly and Antitrust

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Austrian Exploitation Theory

Marx had no monopoly.

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The Austrian economist who refuted Marx's exploitation theory had one of his own.

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If the government is incapable of delivering mail, perhaps that business should be given to competitive private enterprise.

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Professor Benjamin Rogge finds in compulsory unionism perhaps the most flagrant current example of the abuse of government-granted monopoly power.

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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