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Economic Theory of Law of the Austrian School with regard to Competition Law

Publication at Faculty of Law |
2017

Abstract

The chapter starts with an analysis of the methods used by the Austrian School of Economic Thinking and an explanation of the terms used, especially praxeology. The current Austrian economic analysis of law is based on natural law concept.

In addition, the study defines the concept of market and market process, cartels and market-based views and arrangements and ending proposals on the form of true (non) regulation. Attention is paid to Ludwig von Mises (1881-1973), Friedrich August von Hayek (1899-1992), Murray Newton Rothbard (1926-1997), Bruno Leoni (1913-1967), Jesus Huerta De Soto (*1956), Israel Kirzner (*1930) and Dominick Armentano (*1940).

The prevailing view is the rejection of antitrust law as a whole.