Monopolies Good for Competition???

What is the current state of debate on ‘The Monopoly Problem’ in capitalism? Can you refute more in depth on why the works of Hicks, Hayek, Friedman, Stigler, Coase, and Williamson have been used to say monopolies are not a problem, but rather an acceptable feature of capitalism and why monopolies don’t reduce competition and how they are self-limiting? What happened to the left-wing economists in this debate, did they simply get confused by those studies and by the evolution of globalization? Could worker cooperatives fit into this debate somewhere? Here is the article that gives reference to the history of this debate and the works of the economist involved.

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  • Anonymous
    published this page in Ask Prof. Wolff 2017-11-26 23:27:06 -0500