The theory of natural monopoly is an economic fiction. No such thing as a 'natural' monopoly has ever existed. The history of the so-called public utility concept is that the late 19th and early 20th-century 'utilities' competed vigorously, and like all other industries, they did not like competition. They first secured government-sanctioned monopolies, and then, with the help of a few influential economists, they constructed an ex post facto rationalization for their monopoly power. ... The theory of natural monopoly is a 19th-century economic fiction that defends 19th-century (or 18th-century, in the case of the U.S. Postal Service) monopolistic privileges and has no useful place in the 21st-century American economy.more Thomas J. DiLorenzo quotes | [A]ny provider that commands 90 percent of the market—whether we’re talking about software, phone service, or heating oil—is, by definition, a monopoly. Our government employs thousands of bureaucrats to track down and break up monopolies on the grounds that monopolies stifle competition and thereby produce bad products at high prices. Doesn’t it strike anyone as strange that the same government protects its own monopoly in education? And stranger still, that nearly everyone accepts this state of affairs as normal—as something that has always been and must always be? ... [C]ompetition forces public schools into making long-overdue repairs. And it offers poor parents the choices they desperately desire.more Jennifer A. Grossman quotes | To create conditions in which competition will be as effective as possible, to prevent fraud and deception, to break up monopolies -- these tasks provide a wide and unquestioned field for state activity.more Friedrich August von Hayek quotes | Competition, free enterprise, and an open market were never meant to be symbolic fig leaves for corporate socialism and monopolistic capitalism.more Ralph Nader quotes | It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.more Theodore Roosevelt quotes | |
Competition Quotes 1-6 out of 6
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