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Spring 2007
ISSN 0890-913X
Volume 22, Number 2

A Kantian Critique of Antitrust: on Morality and Microsoft

Mark D. White, College of Staten Island/CUNY
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JournalofPrivateEnteVise,SpecialIssue,VolumeXXII,Volume2,Spring2007KantianCritiqueofAntitrust:OnMoralityandMicrosoftMarkD.'White'CollegeofStatenIsland/CUNYMosteconomistssupportfreemarketstoapoint.Ichosethatlastwordverycarefully,forjustasageometricalpointisatheoreticalconstructthatdoesnotexistintherealworld,soisthetextbookmodelofperfectcompetition.Butmosteconomistssupportfreemarketsonlyinsofarastheyadheretothisidealizedconception.Manyeconomistsgosofarastodefine"freemarket"tomeanaperfectlycompetitiveindustry,asifanefficientoutcomehasanythingtodowiththeword"free."Indeed,theterm"marketfailure"hasbeencoinedtodescribeanydeviationfromperfectcompetition,includingimperfectcompetitionandmonopoly(aswellasexternalities,publicgoods,etc.).2Buttheonlysinofthemarket,inthiscase,isafailuretoliveuptoanimpossibleexample,afailuretodothatforwhichitwasneverdesignedorintended.Soaccordingtothisview,marketfailureiseverywherewhattodoaboutit?1TheauthorthanksLawrenceWhite,EdStringhara,TimBrennan,RogerMcCain,RichardZerbe,andtheparticipantsintheAssociationforPrivateEnterpriseEducationandAssociationforSocialEconomics/EasternEconomicAssociationmeetings,atwhichanearlyversionofthischapterwaspresented;theusualcaveatsapply.2ThediscussionofmarketfailurehereincloselyparallelsAustrianarguments;see,forinstance,Kiszner(1963)andCordato(1992).Foracriticalanalysisoftheterm."marketfailure"fromtheperspectiveoftransactioncosts,seeZerbeandMcCurdy(1999,2000).MarkD.White161
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