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 on, criticism and/or legislation:
“A bad short story or novel or poem leaves one comparatively calm because it does not exist, unless it gets a fake prestige through being mistaken for good work. It is essentially negative, it is something that has not come through. But over bad criticism one has a sense of real calamity.”
—Rebecca West (1892–1983)
“It is from the womb of art that criticism was born.”
—Charles Baudelaire (1821–1867)
“The wise know that foolish legislation is a rope of sand, which perishes in the twisting.”
—Ralph Waldo Emerson (1803–1882)