Sunday Morning Ponderance: Monopoly Edition
Posted in Economics Problems, labor markets, Market Failures, You Can't Have it Both Ways on Dec 16th, 2012
I am sure you folks are familiar with the claim that “markets are prone to monopolies.” Let’s just take that as given and accept the conclusion that this requires considerable government interference in the course of voluntary transactions. The data are not very clear that this is, indeed, what happens. Take a look at the […]