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IPFS News Link • Economy - Economics USA

The tyranny of the Monopoly in American economic life

03-05-2010 • arclein

t is simple. We pass laws insisting the consumer must buy turnips from a licensed vender. We then sell a few licenses to a handful of venders at a high price. He then got to the producer and demands a cut for peddling his turnips. He also jacks up the turnip price to make a good profit. Over time, he develops expensive tastes and convinces himself that those turnips are valuable and up goes the prices and down goes the cost.

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