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Pastimes : Austrian Economics, a lens on everyday reality

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To: Don Lloyd who wrote (38)	12/11/2001 11:51:53 AM
From: eddieww	Read Replies (2) of 445

While we wait for today's FED intervention, let me pose this question: According to the vons (Mises, Hayek), does a government have any regulatory role in the marketplace beyond insuring property rights? For instance, in Needles, CA. there are 5 gas stations, and the next nearest is 75 miles away. The owners of these stations get together for breakfast and form a local mini-cartel that fixes the price of gasoline 20% higher than is generally available elsewhere. Do the SUV owners in Needles wait for someone unwilling to join the cartel to open a new station?

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