Factor Prices Under Monopoly.
The Quarterly Journal of Austrian Economics 2010, Spring, 13, 1
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Publisher Description
INTRODUCTION In his chapter in Human Action on work and wages, Ludwig von Mises claims that no theory of a "monopoly of demand" can successfully prove that workers could be permanently paid below their marginal value productivity (discounted by originary interest) in the free market. Since he focuses mainly on a defense of the free market, he does not go into much detail regarding this possibility in a hampered market economy. However, in the course of refuting the free market monopoly of demand theory, Mises (1998, pp. 591-92) writes:
GENRE
Business & Personal Finance
RELEASED
2010
22 March
LANGUAGE
EN
English
LENGTH
37
Pages
PUBLISHER
Ludwig von Mises Institute
SIZE
278.2
KB
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