By the mid-1950s, Levi came to propound the opposite viewpoint. In 1956, he and Director wrote, "Since economic theory demonstrates that the presence of monopoly is much more often alleged than confirmed . . . less rather than more regulation ought to be prescribed" (p. 344). Moreover, contrary to Levi's 1947 claim, jointly he and Director also maintained that abuses of the firm, such as price-cutting, cannot create or enhance monopoly power (p. 290). They went so far as to claim, "In point of fact even a firm with complete monopoly power over prices and output cannot both get the advantage of such power and impose additional coercive restrictions on suppliers and customers" (p. 290).

Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, loc. 1120