INESS - Institute of Economic and Social Studies - Mises on Monopoly Prices

In this paper the author - Juraj Karpiš - criticizes Mises theory of monopoly prices from an Austrian perspective. He attempts to show, that the purpose of identifying monopoly prices in an unhampered market isn’t worth following, because the concept of hurt consumer supremacy by not acting on the side of producers is not compatible with universal property rights. Further He argues that lack of knowledge about the demand elasticity and the real purpose of the supply restriction (which are two main monopoly price creating factors) make the quest for monopoly prices identification a highly subjective venture, on which no antitrust action can be based.

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