Title

Is Market Power Destructive? An Undergraduate Assignment Using Adam Smith's Criticisms of Monopolies

Authors

Sara Bothun, Valparaiso University

Document Type

Article

Publication Date

2012

Abstract

This paper describes an assignment where students evaluate a current industry using Adam Smith's arguments against monopoly power. Using Smith's arguments, students write a paper describing whether they believe a current industry, such as the US cellular phone carrier industry, suffers from the problems Smith described in The Wealth of Nations. This assignment invites students to take ownership over a current issue while developing a deep understanding of monopolies. By using Smith's criticisms of monopolies, students will also see that economic 'truths' are complicated, even in the classic 'laissez-faire' text.

Recommended Citation

Bothun, S. (2012). Is market power destructive? An undergraduate assignment using Adam Smith's criticisms of monopolies. International Journal of Pluralism and Economics Education, 3 (4): 415 - 423.