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7 - Entrepreneurship Is the Best Anti-monopoly Law

from Part II - Entrepreneurs in Market Theories

Published online by Cambridge University Press:  02 May 2024

Weiying Zhang
Translated by
Matthew Dale
Weiying Zhang
Affiliation:
Peking University, Beijing
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Summary

This chapter discusses mainstream economics’ misunderstanding of monopoly law. Mainstream economics’ conceptions of competition and monopoly are incorrect. Ignoring entrepreneurship is the primary reason for this misunderstanding. Entrepreneurship and competition are two sides of the same coin. In markets with free entry, competition always exists because competition is the essence of entrepreneurship. True monopolies necessarily come from governmental – or related entities’ – limits on market entry or preferential treatment. As long as freedom of entry exists, entrepreneurs will always attempt to find new opportunities and innovative methods to overthrow the current market leader. Entrepreneurship is the best anti-monopoly law because it is more conducive to the breakdown of monopolies than any legal provisions or policies.

Keywords

monopolycompetitionentrepreneurshipfree entry
Type
Chapter
Information
Re-Understanding Entrepreneurship
What It Is and Why It Matters
 , pp. 114 - 133
Publisher: Cambridge University Press
Print publication year: 2024

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