4
$\begingroup$

This article claims Hayek endorsed competition regulation:

As it evolved, neoliberalism became more strident. Hayek’s view that governments should regulate competition to prevent monopolies from forming gave way – among American apostles such as Milton Friedman – to the belief that monopoly power could be seen as a reward for efficiency.

In which work did Hayek advance such view?

$\endgroup$
3
$\begingroup$

This article states:

In both of his seminal works in political theory, The Constitution of Liberty and Law, Legislation and Liberty, Hayek endorsed as a legitimate function of the state the power to regulate monopolies and curtail industry practices in restraint of trade.

For example, in the first book, in Chapter 15, Hayek declares the importance of the nature of government intervention:

enter image description here

Notice that Hayek considered trade unions as workers' monopolistic institutions that damaged free market. Hence, in his view, these are undesirable. In Chapter 18 of the above books it says:

enter image description here

More on monopoly is in Chapter 17:

enter image description here

enter image description here

$\endgroup$

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.