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.
About the Guest
Jeffrey M. Herbener is chairman of the department of economics at Grove City College and associate editor of the Quarterly Journal of Austrian Economics.
Milton Shapiro, Foundations of the Market Price System
Murray N. Rothbard, Man, Economy and State: A Treatise on Economic Principles
Ep. 273 The Case Against Antitrust (Tom DiLorenzo)
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