INSTITUTE OF ECONOMIC AND SOCIAL STUDIES

Long term unemployed employment support is missing a building block. (Notes from an expert seminar).

Speech given in Bratislava on the 12th August 2014 to the Institute of Economic and Social Studies (INESS) by Sean Gabb.

INESS – The Institute of Economic and Social Studies has decided to contribute its arguments to the discussion of the legitimacy and utility of profit in healthcare through its latest publication, Zdravý zisk (Healthy Profit).

In this paper the author - Juraj Karpiš - criticizes Mises theory of monopoly prices from an Austrian perspective. He attempts to show, that the purpose of identifying monopoly prices in an unhampered market isn’t worth following, because the concept of hurt consumer supremacy by not acting on the side of producers is not compatible with universal property rights. Further He argues that lack of knowledge about the demand elasticity and the real purpose of the supply restriction (which are two main monopoly price creating factors) make the quest for monopoly prices identification a highly subjective venture, on which no antitrust action can be based.

In this paper the author - Juraj Karpiš - criticizes Mises theory of monopoly prices from an Austrian perspective. He attempts to show, that the purpose of identifying monopoly prices in an unhampered market isn’t worth following, because the concept of hurt consumer supremacy by not acting on the side of producers is not compatible with universal property rights. Further He argues that lack of knowledge about the demand elasticity and the real purpose of the supply restriction (which are two main monopoly price creating factors) make the quest for monopoly prices identification a highly subjective venture, on which no antitrust action can be based.

Below is a short summary of the Analysis of the Social System in Slovakia worked out by INESS in February 2006.