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Pastimes : Austrian Economics, a lens on everyday reality
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To: eddieww who wrote (40)12/11/2001 12:42:05 PM
From: Don Lloyd  Read Replies (1) of 445
 
eddieww -

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?

All fair questions, but requiring some research to address.

As far as the second question goes, something to chew on in the meantime is whether the station owners are assumed to act in their own self interest and just exactly what actions can the government take, and what are the implications of those actions?

Regards, Don
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