Adam Smith's "Wealth of Nations" in 1776 argued famously that market forces lead to competitive outcomes and lower prices — if governments can resist the temptation to connive with business to protect ...

Marshall Hargrave is a stock analyst and writer with 10+ years of experience covering stocks and markets, as well as analyzing and valuing companies. Somer G. Anderson is CPA, doctor of accounting, ...

In this paper we argue that the welfare loss from monopoly equals deadweight loss plus expenditures by monopolists to defend and antitrust enforcers to attack their monopolies. A model of a ...