Rothbard's Criticism of Monopoly Price Theory : Chapter 10 of Man, Economy, and State
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Man, Economy, and State, 2nd edition, Murray N. Rothbard. Chapter 10 — Monopoly and Competition 2. Cartels and Their Consequences A. Cartels and “Monopoly Price” But is not monopolizing action a restriction of production, and is not this restriction a demonstrably antisocial act? Let us first take what would seem to be the worst possible case of such action: the actual destruction of part of a product by a cartel. This is done to take advantage of an inelastic demand curve and to raise the price to gain a greater monetary income for the whole group. We can visualize, for example, the case of a coffee cartel burning great quantities of coffee.
Rothbard's Criticism of Monopoly Price Theory : Chapter 10 of Man, Economy, and State
Rothbard's Criticism of Monopoly Price Theory…
Rothbard's Criticism of Monopoly Price Theory : Chapter 10 of Man, Economy, and State
Man, Economy, and State, 2nd edition, Murray N. Rothbard. Chapter 10 — Monopoly and Competition 2. Cartels and Their Consequences A. Cartels and “Monopoly Price” But is not monopolizing action a restriction of production, and is not this restriction a demonstrably antisocial act? Let us first take what would seem to be the worst possible case of such action: the actual destruction of part of a product by a cartel. This is done to take advantage of an inelastic demand curve and to raise the price to gain a greater monetary income for the whole group. We can visualize, for example, the case of a coffee cartel burning great quantities of coffee.