Criticism On Legislation
Economic libertarians claim that price fixing is inherently unstable and that regulation does more harm than good. A company can sometimes cheat on the cartel by secretly lowering its price and expand in the market. If there are low barriers to entry, new firms may enter the market. Also, libertarians say that price-fixing legislation limits innovation because it discourages the creation of competing companies.
Read more about this topic: Price Fixing
Famous quotes containing the words criticism and/or legislation:
“I, with other Americans, have perhaps unduly resented the stream of criticism of American life ... more particularly have I resented the sneers at Main Street. For I have known that in the cottages that lay behind the street rested the strength of our national character.”
—Herbert Hoover (1874–1964)
“Strictly speaking, one cannot legislate love, but what one can do is legislate fairness and justice. If legislation does not prohibit our living side by side, sooner or later your child will fall on the pavement and I’ll be the one to pick her up. Or one of my children will not be able to get into the house and you’ll have to say, “Stop here until your mom comes here.” Legislation affords us the chance to see if we might love each other.”
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