The Only “Antitrust” Policy That’s Needed is Freedom of Entry

Source: American Institute for Economic Research
by Donald J Boudreaux

“At no time are all resources being used perfectly — that is, as they’d be used by an omniscient, omnipotent, and omnibenevolent deity. But so what? In our mortal vale, a standard of God-like perfection is absurd. The best that we can hope for is that the profits and losses that prevail at each and every moment continually prompt improvements in resource use. Fortunately, the history of modern bourgeois industrial economies provides powerful evidence that this competitive market process does indeed work very well. Through it, the living standards of ordinary people are consistently raised. In fact, ordinary people, rather than the experimenting entrepreneurs themselves, reap the overwhelming bulk of the benefits of successful innovation. For ordinary people to continue to reap such benefits, there is no need for antitrust. In fact, antitrust stymies this competitive process.” (01/10/22)