[lbo-talk] Meth and Monopoly (was Lumpen)
Jim Devine
jdevine03 at gmail.com
Wed Jan 25 13:02:55 PST 2006
On 1/25/06, Yoshie Furuhashi <furuhashi.1 at osu.edu> wrote:
> Where there arises monopoly among those who commit crimes, it seems
> to me that the state helps create it, by putting petty competitors
> out of business.
this is one of those cases -- ignored by the econ. textbooks, natch --
in which monopoly can be better than a competitive market. After all,
monopoly prices discourage people from using meth.
--
Jim Devine
"The price one pays for pursuing any profession or calling is an
intimate knowledge of its ugly side." -- James Baldwin
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