New and Larger Costs of Monopoly and Tariffs [post]

James Andrew Schmitz
2012 unpublished
Fifty-eight years ago, Harberger (1954) estimated that the costs of monopoly, which resulted from misallocation of resources across industries, were trivial. Others showed that the same was true for tariffs. This research soon led to the consensus that monopoly costs are of little significance-a consensus that persists to this day.
doi:10.21034/sr.468 fatcat:k5aclbb2efdzjozjlpe3gk54w4