The Social Costs of Monopoly and Regulation¶
Posner, R. A. (1975). The Social Costs of Monopoly and Regulation. Journal of Political Economy.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Domain-specific¶
- Rent-Seeking Trap
- . Public finance and tax policy — concentrated-benefit/diffuse-cost rents (sugar quotas, oil depletion allowances, professional licensure) sustain lobbying machinery whose cost rivals the rent it protects
This sourceArgues that the social cost of monopoly includes the resources spent obtaining it, so the contest can dissipate the whole monopoly profit instead of transferring it.
Supported in partVerified against the work's full text
“Consumers' wealth is not transferred to the shareholders of monopoly firms; it is dissipated in the purchase of inputs into the activity of becoming a monopolist.”
- . Public finance and tax policy — concentrated-benefit/diffuse-cost rents (sugar quotas, oil depletion allowances, professional licensure) sustain lobbying machinery whose cost rivals the rent it protects
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