Quotation of the Day…

by Don Boudreaux on February 25, 2022

in Antitrust, Crony Capitalism, Regulation

… is from page 43 of the original, 1982 edition of Dominick Armentano’s superb but regrettably neglected volume Antitrust and Monopoly: Anatomy of a Policy Failure:

Business interests, however, have employed the state in an attempt to achieve legal monopoly positions of influence and power within the capitalistic system. Indeed it may have been their inability to achieve free-market monopoly that prompted such interests to seek government regulatory control over entry and restricted competition in many industries.

DBx: Yes. And antitrust itself began as, and has operated as, the suppression of competition camouflaged as the promotion of competition.

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