Market monopoly is apodictically impossible

Abstract

According to standard economic analysis, the level of competition can be calculated to a nicety based on the number of competitors in an industry. In the alternative Austrian viewpoint, there can only be presence or absence but not degrees of competition; it exists if there are no legal barriers to entry, and does not if there are any such. The present paper plays out this distinction through the prism of DiLorenzo’s (2004) publication