Thursday, February 26, 2015
Hak Choi,Chienkuo Technology University - Department of International Business; Chung-Hua Institution for Economic Research has written on The Birth of Monopoly, Alias Domestic Extreme Protectionism.
ABSTRACT: This paper rejects the traditional monopoly model and works out a completely new one. It also offers a more concrete measure of the loss due to monopoly. Most economists regard monopoly and protectionism is the same, but this paper proves that they are not. Monopoly is the extreme form of protectionism; it is the elimination of both foreign and domestic competitors. This paper also introduces a new concept: domestic protectionism, and shows that it is more harmful than foreign protectionism.