Milton Friedman on Monopolies - Dictionary of Arguments
Brocker I 406
Monopolies/Friedman: at the time when Capitalism and Freedom(1) was published, "technical monopolies" (e.g. railways, telephone) were still considered inevitable. But even then there is a choice between a private monopoly, a state-controlled monopoly or a state-owned enterprise. "Against his will, Friedman considered in such cases a "moderate private monopoly" as "the least evil" (2). He did not see the alternatives as desirable: State enterprises are permanently lacking innovation and are developing into cumbersome, costly bureaucracies. Surveillance authorities, which are supposed to prevent the abusive use of a private monopoly position, can, paradoxically, develop over time into institutions that secure the market position of the controlled company in structural change.
1. Milton Friedman, Capitalism and Freedom, Chicago 1962. Dt.: Milton Friedman, Kapitalismus und Freiheit, München 2004.
2. Ibid. p. 53
Peter Spahn, „Milton Friedman, Kapitalismus und Freiheit“, in: Manfred Brocker (Hg.) Geschichte des politischen Denkens. Das 20. Jahrhundert. Frankfurt/M. 2018_____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Econ Fried I
The role of monetary policy 1968
Geschichte des politischen Denkens. Das 20. Jahrhundert Frankfurt/M. 2018