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Tag Archives: robber barons
the myth of predatory pricing
Predatory pricing does not work. For every cartel, there is 100 speculators. Firms have no choice but to price at a nature market equilibrium price. Continue reading →
Posted in Economics, History
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Tagged free market, historical revision, monopolies, price fixing, robber barons
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1 Comment
Why did Ford double wages?
When competition is allowed, labor flows to its most effective use at its natural market price. When competition is not allows, such as the government mandating minimum prices, the results are unemployment and under production. Continue reading →
Posted in Economics, History, Labor, prices, Standard of Living
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Tagged broken window, robber barons, wages
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1 Comment
reality is not optional 