Apple Under Fire, Von Mises Thought

Over the last few weeks, Apple seems to have come under much fire (multiple lawsuits and anti-trust investigations). All the while they sell millions of iPhones and Ipads.

It just so happens that I am reading some Austrian economics theory by Kirzner and have come across a quote that I think is very fitting. Kirzner quotes Mises discussing competition (1949):

[competition] “manifests itself in the facts that sellers must outdo one another by offering better or cheaper goods and services and that the buyers must outdo one another by offering higher prices.”

Somehow, people don’t seem to like this model of competition. Those losing maybe? Rent seekers in government?

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