Wednesday, July 29, 2015

Monopoly Is Everywhere, Say Mainstream Economists; Austrians Roll Eyes

-Tom Woods
Mainstream economists see “monopoly power” everywhere — even when a breakfast cereal company differentiates its product via advertising. It’s crazy. In today’s episode we discuss the mainstream view of monopoly, as well as so-called perfect competition and monopolistic competition. You’ll be begging for some Mises and Rothbard by the time we’re done.