Andrew Carnegie's monopoly in steel was never as complete as John D. Rockefeller's monopoly in oil. But even after the b
Posted: Thu May 19, 2022 8:55 am
Andrew Carnegie's monopoly in steel was never as complete as
John D. Rockefeller's monopoly in oil. But even after the breakup
of Standard Oil in 1914, monopolies kept developing -- including
more "natural" monopolies such as Microsoft and Facebook. Why does
the government of the USA continue to attempt to break up
monopolies? What is the economic rationale?
Monpolies are inherently anti-consumer.
Monpolies are a natural consequence of technoogical innovation,
and are seen by some economists as evidence of the superiority of
capitalism because the market rewards competition.
Monopolies are problematic because of price-fixing, which is
achieved mainly after they become established, not because of the
aggressive competition required to out-compete rivals before market
dominance is achieved.
All the above.
John D. Rockefeller's monopoly in oil. But even after the breakup
of Standard Oil in 1914, monopolies kept developing -- including
more "natural" monopolies such as Microsoft and Facebook. Why does
the government of the USA continue to attempt to break up
monopolies? What is the economic rationale?
Monpolies are inherently anti-consumer.
Monpolies are a natural consequence of technoogical innovation,
and are seen by some economists as evidence of the superiority of
capitalism because the market rewards competition.
Monopolies are problematic because of price-fixing, which is
achieved mainly after they become established, not because of the
aggressive competition required to out-compete rivals before market
dominance is achieved.
All the above.