Eliminate all forms of monopolistic market power, to include the breakup of large oligopolistic corporations and application of anti-trust laws to labor unions. A Federal incorporation law could be used to limit corporation size and where technology required giant firms for reasons of low cost production the Federal government should own and operate them... Promote economic stability by reform of the monetary system and establishment of stable rules for monetary policy... Reform the tax system and promote equity through income tax... Abolish all tariffs... Limit waste by restricting advertising and other wasteful merchandising practices.
Henry Calvert SimonsRelated topics
advertising application corporation cost equity establishment federal giant government include income incorporation labor large law limit low market merchandising policy power production reform should size stability stable system tax technology waste breakup laws rulesRelated quotes
Market power and externalities are examples of a general phenomenon called market failure-the inability of some unregulated markets to allocate resources efficiently. When markets fail, public policy can potentially remedy the problem and increase economic efficiency. Microeconomists devote much effort to studying when market failure is likely and what sorts of policies are best at correcting market failures. As you continue your study of economics, you will see that the tools of welfare economics developed here are readily adapted to that endeavor. Despite the possibility of market failure, the invisible hand of the marketplace is extraordinarily important.
Greg Mankiw
In fact, one of the main lesson to be learned from the collapses of the Maya, Anasazi, Easter Islanders, and those other past societies (as well as from the recent collapse of the Soviet Union) is that a society's steep decline may begin only a decade or two after the society reaches its peak numbers, wealth, and power. [...] The reason is simple: maximum population, wealth, resource consumption, and waste production mean maximum environmental impact, approaching the limit where impact outstrips resources. On reflection, it's no surprise that declines of societies tend to follow swiftly on their peaks.
Jared Diamond
I can respect the artistic aim of a composer if he arrives at the so-called modern idiom after an intense period of preparation...Such composers know what they are doing when they break a law; they know what to react against, because they have had experience in the classical forms and style. Having mastered the rules, they know which can be violated and which should be obeyed. But, I am sorry to say, I have found too often that young composers plunge into the writing of experimental music with their school lessons only half learned. Too much radical music is sheer sham, for this very reason: its composer sets about revolutionizing the laws of music before he learned them himself.
Sergei Rachmaninoff
A careful examination of the facts will decide the problem of government more and more in favor of liberty, just as it does all other economic problems. We are convinced, so far as we are concerned, that one day societies will be established to agitate for the freedom of government, as they have already been established on behalf of the freedom of commerce.And we do not hesitate to add that after this reform has been achieved, and all artificial obstacles to the free action of the natural laws that govern the economic world have disappeared, the situation of the various members of society will become the best possible.
Gustave de Molinari
Everyone knows how compromised the idea of bureaucracy as a meritocratic system is. The first criterion of loyalty to any organization is therefore complicity. Career advancement is not based on merit but on a willingness to play along with the fiction that career advancement is based on merit, or with the fiction that rules and regulations apply to everyone equally, when in fact they are often deployed as an instrument of arbitrary personal power. ... As whole societies have come to represent themselves as giant credentialized meritocracies, rather than as systems of predatory extraction, we bustle about, trying to curry favor by pretending we actually believe it to be true.
David Graeber
