Celebrating humanity's flourishing through the spread of capitalism and the rule of law
04 May 2018 Leave a comment
in administration, energy economics, industrial organisation, politics - New Zealand
From https://www.whaleoil.co.nz/2018/05/whaleoil-general-debate-1411/
As Ronald Coase said in 1972
One important result of this preoccupation with the monopoly problem is that if an economist finds something—a business practice of one sort or other—that he çloes not understand, he looks for a monopoly explanation. And as in this field we are very ignorant, the number of ununderstandable practices tends to be rather large, and the reliance on a monopoly explanation, frequent.
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