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Against Monopoly

defending the right to innovate

Monopoly corrupts. Absolute monopoly corrupts absolutely.





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The WSJ, Greg Mankiw and Fashion

Greg Mankiw comments on his blog about a Wall Street Journal article [subscription required, so I haven't read it] on the fashion industry lobbying for three years of monopoly power. Thus lies the road to serfdom. Here is an industry that is competitive and people copy each other like mad. Yet Raustiala and Sprigman have shown there is thriving innovation and plenty of profit for everyone involved. It is a great example of how well markets work without the artificial government interference of "intellectual property." Lobbying for government favors isn't about "promoting the progress of science and useful arts" but rather about "a conspiracy against the public, [and] some contrivance to raise prices."

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