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How do we keep monopolies from forming under a world ruled by Objectivist philosophy?

How do we keep monopolies from forming under a world ruled by Objectivist philosophy?

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December 26, 2023

Question: How do we keep monopolies from forming under a world ruled by Objectivist philosophy?

Answer: I think the answer is freedom, and its consequent, competition. Rigid monopolies can only come into existence and stay in existence by government support, usually prohibiting competition and not allowing freedom of entry. But under free market capitalism, we precisely have freedom of entry and so anybody who has a good idea is free to do so. There’s always lots and lots of people who want to try out their ideas.

And if, in fact, they are good ideas, they will find a market share. Also in a free market, any company that’s large and has a huge market share, sometimes that’s called a monopoly, but if it becomes bureaucratic, if it becomes inefficient, it’s no longer satisfying customer needs, wasting resources; the competition will force it to become more efficient or put it out of business.

Stephen Hicks Ph.D.
About the author:
Stephen Hicks Ph.D.

Stephen R. C. Hicks is a Senior Scholar for The Atlas Society and Professor of Philosophy at Rockford University. He is also the Director of the Center for Ethics and Entrepreneurship at Rockford University.

Es autor de El arte de razonar: Lecturas para el análisis lógico (W. W. Norton & Co., 1998), Explaining Postmodernism: Escepticismo y socialismo de Rousseau a Foucault (Scholargy, 2004), Nietzsche y los nazis (La navaja de Ockham, 2010), La vida empresarial (CEEF, 2016), Liberalism Pro and Con (Connor Court, 2020), Arte: Modern, Postmodern, and Beyond (con Michael Newberry, 2021) y Eight Philosophies of Education (2022). Ha publicado en Business Ethics Quarterly, Review of Metaphysics y The Wall Street Journal. Sus escritos se han traducido a 20 idiomas.

Ha sido Profesor Visitante de Ética Empresarial en la Universidad de Georgetown en Washington, D.C., Profesor Visitante en el Social Philosophy & Policy Center de Bowling Green, Ohio, Profesor Visitante en la Universidad de Kasimir el Grande, Polonia, Profesor Visitante en el Harris Manchester College de la Universidad de Oxford, Inglaterra, y Profesor Visitante en la Universidad Jagiellonian, Polonia.

Es licenciado y máster por la Universidad de Guelph (Canadá). Se doctoró en Filosofía por la Universidad de Indiana, Bloomington (EE.UU.).

En 2010 ganó el Premio a la Excelencia Docente de su universidad.

Su serie de podcasts Open College está publicada por Possibly Correct Productions, Toronto. Sus conferencias y entrevistas en vídeo están en línea en CEE Video Channel, y su sitio web es StephenHicks.org.  


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