reedom and prosperity stand as the two central themes of Milton Fried-man's political writings. Rather than offering either a " rights/liberty " defense of capitalism or a " utilitarian " defense, Friedman sought to identify the numerous cases where the two motivations coincide. Much of his analysis of markets has attempted to show this broader consilience or compatibility of values. I wish to ...

WE MUST FOLLOW THE PATH OF THE OCTOBER SOCIALIST REVOLUTION [En, Es] We honour the 100th anniversary of the Great October Socialist Revolution, of the world-historic event of international significance, which demonstrated that capitalism is not invincible. The working class, the leading class of society with its allies have the strength to overthrow capitalism and construct the socialist socie...

The phenomenon of crony capitalism has been explored primarily with reference to its impact on economic growth. This study investigates the political implications of crony capitalism and, specifically, the interaction between political competition and crony capitalism. Based on a case study of political trajectories in two regions of the Russian Federation, I argue that under crony capitalism p...

This paper explains how grants of monopolistic privileges to capitalists can lower labor and land factors’ prices compared to what would prevail in a free market environment. Monopoly gains of privileged business owners are not only “extracted” from their clients but also from factor owners. We revisit Rothbardian monopoly price theory and extend it to the realm of factor pricing. Monopolistic ...

ion regarding what became central to economic practices through the legalized definitions of capital and associated property rights in succeeding stages of capitalism: 12 * In merchant capitalism, based on exchange of goods and services, capital was largely tangible (e.g., land, buildings, resources, inventory) and was provided and controlled by individuals or families. * During industrial capi...

0. Summary of Argument The root cause for the persistent lack of progress toward competition in New Zealand telecommunications can be found in Telecom's origins: privatization and deregulation created a de facto monopoly; Telecom's monopoly is sustainable against competition despite the disappearance of natural monopoly conditions throughout telecommunications markets; Grants of monopoly are ec...

We study allocative inefficiency under monopoly using a two-good general-equilibrium monopoly production model. Individuals are heterogeneous with respect to preferences. We compare social welfare under monopoly with welfare under perfect competition. We then apply this model to the antidepressant and antipsychotic pharmaceutical markets. We find that, for nine specific drugs, annual social-wel...