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My economics teacher is a whole sale idiot. We've gotten into several little scuffles over the course of class and I think it's fair to say that there is a mutual hatred between the two of us. I knew I was in for a doozy when on the first day he said that he'd earned his masters in economics...
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I have been thinking of this article, in which I read recently. In its entirety I believe the author answers his own questions, in regards to barring entry to the market but does try to avoid that it is regulation in the one aspect where when regulation was repealed to let smaller competitors compete...