Changes

The libertarian position on economics is that private monopolies are fine and antitrust laws should not exist.  One can scroll through the articles on the websites of the libertarian Mises Institute and Cato organizations and find page after page defending private monopolies or pretending they don't exist or can't survive.  For example, the Mises Institute website and found this statement about its leader, Murray Rothbard:

The [[libertarian]] position on economics is that private monopolies are fine and antitrust laws, since they represent government intrusion on private business, should not exist.  Libertarian economics is based very often on the discussion of wealth and how it is created in  [[Adam Smith]]'s book ''Wealth of Nations,'' although the books is famous as being one that many people discuss, but few people have actually read.  Adam Smith, in fact, devotes considerable discussion to monopolies, and the effects of them on pricing and the consumer.  One can scroll through the articles on the websites of the libertarian Mises Institute and Cato organizations and find page after page defending private monopolies or pretending they don't exist or can't survive.  For example, the Mises Institute website and found this statement about its leader, Murray Rothbard:

   

   

"Thus, for Rothbard there is no social 'problem' as­sociated with monopoly in a free market."<ref>http://www.mises.org/story/1800</ref>

"Thus, for Rothbard there is no social 'problem' as­sociated with monopoly in a free market."<ref>http://www.mises.org/story/1800</ref>