by Ray Keating
The Keating Files – January 10, 2021
(Editor’s Note: Much damage has been inflicted on conservatism, conservative thought, and the conservative movement in recent years. The effort to heal and rebuild conservatism promises to be a difficult, but necessary undertaking. The Keating Files will regularly weigh in to help that process. This is our fourth “Rebuilding Conservatism” column.)
Politics drives grandiose claims about monopoly, and calls for government antitrust crackdowns. Little of this, to be generous, has anything to do with actual economics.
In the aftermath of insurrection and invasion on Capitol Hill, and grossly irresponsible assertions and outright lies by assorted politicians, there predictably has been a backlash – much of it justified and some not so much. One consequence that actually made me chuckle was Simon & Schuster deciding not to publish a book from U.S. Senator Josh Hawley reportedly titled “The Tyranny of Big Tech.” Knowing Hawley’s populism, cynicism and opportunism, along with this hyperbolic title, I’m pretty sure this isn’t a tome offering sound economic reasoning.
But both left-wing and populist politics have long abused the idea of monopoly and calls for government to intrude in the marketplace. Indeed, it’s been going on since the end of the nineteenth century. While ignoring or denying economic reality, antitrust action ultimately is about politics overruling decisions made by consumers.
The following episodes of the “Free Enterprise in Three Minutes Podcast” offer assistance in clarifying matters regarding monopoly and antitrust. I hope you’ll tune in for some sound economics on these crucial matters.
1. Free Enterprise in Three Minutes with Ray Keating – Episode #12: No, Apple and the NFL Not Monopolies – Politicians, the media and more than a few economists rather haphazardly toss around the word “monopoly.” Ray Keating sets the record straight on what a monopoly actually is, and no, Apple, the NFL and Major League Baseball are not monopolies.
http://www.buzzsprout.com/155969/707801-episode-12-no-apple-and-the-nfl-are-not-monopolies
2. Free Enterprise in Three Minutes with Ray Keating – Episode #73: Antitrust is About Politics, Not Economics, Part I – Ray Keating illustrates that antitrust regulation is all about politics and has nothing to do with sound economics. https://www.buzzsprout.com/155969/4764017-episode-73-antitrust-is-about-politics-not-economics-part-i
3. Free Enterprise in Three Minutes with Ray Keating – Episode #74: Antitrust is About Politics, Not Economics, Part II – Ray Keating explains that antitrust regulation is not about protecting consumers, and that it ignores the dynamism of the marketplace.
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Other articles in the Rebuilding Conservatism Series…
“Rebuilding Conservatism #3: Lessons in Economics, Part I – Thinking about Trade”
“Rebuilding Conservatism #2: Free Trade Rocks and Protectionism Sucks”
“Rebuilding Conservatism #1: What is Conservatism?”
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Ray Keating is a columnist, novelist, economist, podcaster and entrepreneur. His new book Vatican Shadows: A Pastor Stephen Grant Novel is the 13th thriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com.
The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?
You also can order his book Behind Enemy Lines: Conservative Communiques from Left-Wing New York from Amazon or signed books at RayKeatingOnline.com. His other recent nonfiction book is Free Trade Rocks! 10 Points on International Trade Everyone Should Know.
One of the best ways to enjoy Ray Keating’s Pastor Stephen Grant thrillers and mysteries is to join the Pastor Stephen Grant Fellowship! For the BEST VALUE, consider the Book of the Month Club. Check it all out at https://www.patreon.com/pastorstephengrantfellowship
Also, tune in to Ray Keating’s podcasts – the PRESS CLUB C Podcast and the Free Enterprise in Three Minutes Podcast
Check out Ray Keating’s Disney news and entertainment site at www.DisneyBizJournal.com.
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