The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne

Exercise 5

Advocates of government regulation often make their case by attacking "unrestrained" or "unbridled" competition. Is competition ever "unrestrained?" What were some of the important restraints on competition that operated in the U.S. economy in the nineteenth century when, according to some accounts, competition was "unrestrained?"