Difference between revisions of "Libertarian economics"
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| − | The [[ | + | The [[libertarian]] position on economics is that private monopolies are fine and antitrust laws, since they represent government intrusion on private business, should not exist. Libertarian economics is based very often on the discussion of wealth and how it is created in [[Adam Smith]]'s book ''Wealth of Nations,'' although the books is famous as being one that many people discuss, but few people have actually read. Adam Smith, in fact, devotes considerable discussion to monopolies, and the effects of them on pricing and the consumer. One can scroll through the articles on the websites of the libertarian Mises Institute and Cato organizations and find page after page defending private monopolies or pretending they don't exist or can't survive. For example, the Mises Institute website and found this statement about its leader, Murray Rothbard: |
"Thus, for Rothbard there is no social 'problem' associated with monopoly in a free market."<ref>http://www.mises.org/story/1800</ref> | "Thus, for Rothbard there is no social 'problem' associated with monopoly in a free market."<ref>http://www.mises.org/story/1800</ref> | ||
Revision as of 05:20, March 23, 2007
The libertarian position on economics is that private monopolies are fine and antitrust laws, since they represent government intrusion on private business, should not exist. Libertarian economics is based very often on the discussion of wealth and how it is created in Adam Smith's book Wealth of Nations, although the books is famous as being one that many people discuss, but few people have actually read. Adam Smith, in fact, devotes considerable discussion to monopolies, and the effects of them on pricing and the consumer. One can scroll through the articles on the websites of the libertarian Mises Institute and Cato organizations and find page after page defending private monopolies or pretending they don't exist or can't survive. For example, the Mises Institute website and found this statement about its leader, Murray Rothbard:
"Thus, for Rothbard there is no social 'problem' associated with monopoly in a free market."[1]
Another page of the Mises Institute it defends exclusive contracts.[2]
In this book featured by the Mises Institute, the author advocates the "total abolition of antitrust" laws.[3]
Sources: