michael perelman wrote: > Regarding Nathan's synthesis, one reason why Sherman may have been > right as well as Shaikh et al. Consider the automobile industry in > the 50's and 60s. Very little competition occurred. Studebaker, > Hudson, & American Motors survived at the margin with the support of > the Big Three to reduce the threat of antitrust. > > With international competition, which heated up later, the > monopolistic profits evaporated. > > Intellectual property rights tightened to protect some key industries > from such foreign competition as the US economy heated up.
I think that Marx was right when he speculated (in the POVERTY OF PHILOSOPHY) that competition generates monopoly and monopoly generates competition. Capitalists are always trying to gain monopoly position -- and sometimes succeeding. But this position is transitory, as monopoly profits encourage entry, imitation, and the like. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
