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  • Re: Protectionism question

    [quote user="Gabriel"] The trade policy you should implement depends on what your goal is. Suppose your good buddies own stock in local companies that produce Product X. They will likely make less money in the situation you describe. If your primary goal is to keep your buddies rich, then you should definitely implement very high tariffs.
    Posted to Economics Questions (Forum) by Gabriel on Fri, Oct 5 2007
  • Re: One Big Cartel

    [quote user="Grant"] No no, the monopolistic firm would still have price signals from many other industries to calculate value with. [/quote] Rothbard defines "One Big Cartel" as a cartel composed of all firms. So there would be no external industries for the cartel to refer to. [quote user="Grant"] I think the reasons
    Posted to Economics Questions (Forum) by Gabriel on Fri, Oct 5 2007
  • Re: Protectionism question

    The trade policy you should implement depends on what your goal is. Suppose your good buddies own stock in local companies that produce Product X. They will likely make less money in the situation you describe. If your primary goal is to keep your buddies rich, then you should definitely implement very high tariffs. High tariffs will likely keep money
    Posted to Economics Questions (Forum) by Gabriel on Fri, Oct 5 2007
  • Re: Socialist Entrepreneurs

    [quote user="DBratton"] Let me quibble just a bit with the word "responsible". An entrepreneur should seek to act efficiently, productively, proffitably, etc., but responsible is a value laden word of variable meaning. [/quote] Good catch. You are correct. I should have used a word such as profitably . I noticed my blunder before
    Posted to Economics Questions (Forum) by Gabriel on Fri, Oct 5 2007
  • Re: One Big Cartel

    So Rothbard is saying that the One Big Cartel would "quickly break asunder" because it would continually run losses without knowing it? Alright then, that makes sense. --Gabriel
    Posted to Economics Questions (Forum) by Gabriel on Thu, Oct 4 2007
  • One Big Cartel

    Hello, I have a question regarding the hideously evil “One Big Cartel” (i.e. a cartel composed of all the firms in the country). In Man, Econ, and State , Rothbard points out that such a creature would be unable to perform economic calculation and thus would never arise in a free market. Rothbard states, “One big cartel would not be able rationally
    Posted to Economics Questions (Forum) by Gabriel on Thu, Oct 4 2007
  • Socialist Entrepreneurs

    Hello, I have been trying to understand why economic calculation is not possible in a socialist society. I think I understand why a completely centrally planned society could not economize. Planners would have no way of determining opportunity costs associated with the factors of production. I also see why planners could not economize merely by solving
    Posted to Economics Questions (Forum) by Gabriel on Thu, Oct 4 2007
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