68 | F.A. Hayek’s The Road to Serfdom: Competition, Individualism, and the Politics of Reaction
What's Left of Philosophy
The Importance of Monopoly Capitalism
I think it's important for people who are interested in political theory of capitalism to get our heads wrapped around this because I think it has a lot of implications for lots of areas of social theory. In the first place economies of scale and increasing centralization that can create monopolies but then you can also have some artificially constructed monopolies so like national airlines could be a monopoly but that's intentionally so. Then you can have monopolies over natural resources like so things that are not that are geographically specific or are prone to monopolization as it's not possible to reproduce those conditions with alternative locales. Theory of monopoly capitalism that he's arguing against is much more specific than what Paul Swayze
