Competition and Monopoly
This three-lecture course with Professor Peter Klein reviews mainstream and Austrian theories of competition and monopoly, with a focus on theory and applications to business strategy, antitrust and regulation, and innovation.
He begins with a brief overview of the neoclassical model of “perfect competition” and the theory of “market failure,” showing how this particular understanding of markets underlies mainstream economists’ beliefs about taxes and regulation, antitrust, environmental policy, and more.
Klein then turns to various approaches to competition and monopoly within the Austrian school, including the views of Menger, Mises, Rothbard, and Kirzner.
The final section focuses on current applications of these debates to minimum-wage laws, patent and innovation policy, environmental regulation, and more.
The live lectures were originally broadcast on 2/9, 2/16, and 2/23.
Attend this online course for free. As an enrolled student, you can watch lecture video, review and download lecture materials, take quizzes, and utilize a full list of all required readings.