Thu, 27 Sep 2007

Government vs. Monopolies

If you're looking to governments to save you from monopolies, you're asking the devil for salvation. A government is itself a monopoly on the creation of violence. Why would you expect one monopoly to be hostile a priori to other monopolies?

The theory is that a government is controlled by its citizens. However, control over the government is a public good. Like all public goods, it is underproduced.

Posted [00:50] [Filed in: ] [permalink] [Google for the title] economics,monopoly [digg this]