Difference between revisions of "Monopoly"
From civicintelligence
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[[File:PUCK-Monopoly_Millionaires_Dividing_the_Country.jpg|thumb|This looks like something we'd like....]] | [[File:PUCK-Monopoly_Millionaires_Dividing_the_Country.jpg|thumb|This looks like something we'd like....]] | ||
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Monopolies (both actual and defacto) exist when one institution controls the access to something else, generally a commodity, information, or a service. In the absence of external controls, the institution can (and almost inevitably does) then set the price, determine the attributes of what they’re selling, and, even, who’s eligible to acquire what’s being sold. The key to the idea is ''control.'' A monopoly that is actually being regulated does not have the power that an unregulated one has, a power that is generally misused. | Monopolies (both actual and defacto) exist when one institution controls the access to something else, generally a commodity, information, or a service. In the absence of external controls, the institution can (and almost inevitably does) then set the price, determine the attributes of what they’re selling, and, even, who’s eligible to acquire what’s being sold. The key to the idea is ''control.'' A monopoly that is actually being regulated does not have the power that an unregulated one has, a power that is generally misused. | ||
Revision as of 16:20, 3 June 2013
Description
Monopolies (both actual and defacto) exist when one institution controls the access to something else, generally a commodity, information, or a service. In the absence of external controls, the institution can (and almost inevitably does) then set the price, determine the attributes of what they’re selling, and, even, who’s eligible to acquire what’s being sold. The key to the idea is control. A monopoly that is actually being regulated does not have the power that an unregulated one has, a power that is generally misused.
