Boldrin and Levine: The goal of economic efficiency

“The goal of economic efficiency is not that of making monopolists as rich as possible, in fact: it is almost the opposite. The goal of economic efficiency is that of making us all as well off as possible.”

  • Boldrin and Levine, author of Against Intellectual Monopoly

“Competition is not a gala dinner, and getting rid of inefficient firms while allowing efficient ones to blossom is exactly what competition is supposed to accomplish.”

http://mises.org/daily/5108/Ideas-Free-and-Unfree-A-Book-Commentary#part9

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