Organization

monopoly

Not who you're looking for? Others named monopoly: economics-themed board game · 1985 video game · 1991 video game · game show

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Overview

A monopoly is a market in which one person or company is the only supplier of a particular good or service. A monopoly is characterized by a lack of economic competition to produce a particular thing, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb monopolise or monopolize refers to the process by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge overly high prices, which is associated with unfair price raises. Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry.

From Wikipedia (CC BY-SA 4.0).

Notable quotes

“Advertising is an important characteristic of modern capitalism and a contributory factor in the establishment and maintenance of monopoly positions.”
— Keith Cowling and Philip R. Tomlinson, "Monopoly capitalism", in Dennis C. Mueller (editor), The Oxford Handbook of Capitalism, Oxford University Press, 2012, page 303 (ISBN 9780195391176).
“The best of all monopoly profits is a quiet life.”
— , "Annual survey of economic theory: The theory of monopoly," , Volume 3, Number 1, Jan., 1935, p. 8.
“Ironically, contrary to the consensus of historians, it was not the existence of monopoly which caused the federal government to intervene in the economy, but the lack of it.”
— Gabriel Kolko, The Triumph of Conservative, Chicago: IL, Quadrangle Publishing Co. (1967) pp. 4-5
“The methods by which the Vanderbilts, Goulds, Fields, Rockefellers, Mackays, Floods, O'Briens, and the coal and iron and salt Pashas are heaping up enormous fortunes are methods, not of creation of wealth, but of the redistribution of the wealth of the masses into the pockets of monopolists.”
— Henry Demarest Lloyd, Quoted in Henry Demarest Lloyd, 1847-1903, A Biography by Caro Lloyd, 1912, page 53
“The most obvious negative feature of capitalism is that it can produce private monopolies that restrict output and thereby harm consumers.”
— Dennis C. Mueller, "Introduction", in Dennis C. Mueller (editor), The Oxford Handbook of Capitalism, Oxford University Press, 2012, page 5 (ISBN 9780195391176).
“[...] the lies that people tell [...] the people who have monopolies pretend not to. [...] you don't want to get regulated by the government [...] So if the monopolists pretend not to have monopolies, the non-monopolists pretend to have monopolies. [...] If you are a non-monopolist, you will rhetorically describe your market as super-small [...] you are the only person in that market.”
— Peter Thiel (quote at 5:33 of 50:27 in video)

Quotes via Wikiquote (CC BY-SA), each with its original source.

On IJR

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Overview

A monopoly is a market in which one person or company is the only supplier of a particular good or service. A monopoly is characterized by a lack of economic competition to produce a particular thing, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb monopolise or monopolize refers to the process by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge overly high prices, which is associated with unfair price raises. Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry.

From Wikipedia (CC BY-SA 4.0).

Not who you're looking for? Others named monopoly: economics-themed board game · 1985 video game · 1991 video game · game show

Notable quotes

“Advertising is an important characteristic of modern capitalism and a contributory factor in the establishment and maintenance of monopoly positions.”
— Keith Cowling and Philip R. Tomlinson, "Monopoly capitalism", in Dennis C. Mueller (editor), The Oxford Handbook of Capitalism, Oxford University Press, 2012, page 303 (ISBN 9780195391176).
“The best of all monopoly profits is a quiet life.”
— , "Annual survey of economic theory: The theory of monopoly," , Volume 3, Number 1, Jan., 1935, p. 8.
“Ironically, contrary to the consensus of historians, it was not the existence of monopoly which caused the federal government to intervene in the economy, but the lack of it.”
— Gabriel Kolko, The Triumph of Conservative, Chicago: IL, Quadrangle Publishing Co. (1967) pp. 4-5
“The methods by which the Vanderbilts, Goulds, Fields, Rockefellers, Mackays, Floods, O'Briens, and the coal and iron and salt Pashas are heaping up enormous fortunes are methods, not of creation of wealth, but of the redistribution of the wealth of the masses into the pockets of monopolists.”
— Henry Demarest Lloyd, Quoted in Henry Demarest Lloyd, 1847-1903, A Biography by Caro Lloyd, 1912, page 53
“The most obvious negative feature of capitalism is that it can produce private monopolies that restrict output and thereby harm consumers.”
— Dennis C. Mueller, "Introduction", in Dennis C. Mueller (editor), The Oxford Handbook of Capitalism, Oxford University Press, 2012, page 5 (ISBN 9780195391176).
“[...] the lies that people tell [...] the people who have monopolies pretend not to. [...] you don't want to get regulated by the government [...] So if the monopolists pretend not to have monopolies, the non-monopolists pretend to have monopolies. [...] If you are a non-monopolist, you will rhetorically describe your market as super-small [...] you are the only person in that market.”
— Peter Thiel (quote at 5:33 of 50:27 in video)

Quotes via Wikiquote (CC BY-SA), each with its original source.