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Okay, I'm having a discussion with a socialist/statist about the free market, monopoly, and anti-trust laws (repeal them!). I'm getting to the point where my austro-libertarian knowledge is incomplete. He says: It is a major financial commitment for a startup to stock and staff a store. As soon...
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So many economists adopt perfect competition theory. Any ounce of truth to it? What are the best arguments that smash it, namely that amount firms don't matter? Thanks, Chris
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I am probably going to be attending an lecture later this week at a local college given by Keynesian economists, and I want to go prepared. This lecture will be on the labor market, poverty, and wealth distribution. I have very little idea of the Keynesian theory of all that, so if someone could give...
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Two questions: 1. Could anyone help me out by giving a better explanation of how "obscene" profits by oil companies actually help consumers at the pump and don't hurt them? I understand how higher profits equal more savings, which equal more investment, which equal more capital, which equal...
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I still don't quite see the point in switching to a 'gold standard' at all. Why not completely abolish the enforcement of a monopoly on any single currency, be that pure gold, gold-backed, silver, fiat etc? Why not just have open competing currencies and let the free-market decide which is...