It’s always amusing to read about businesses said to possess so-called “monopoly” power in the U.S., or much more disturbingly, about accusations of “monopoly” power from the ankle biters inside the Department of Justice and Federal Trade Commission. By definition these accusations are made well after the fact.
That is so simply because today’s “monopoly” is yesterday’s unknown, joke, or both. Which is just a hint that “monopolies” get that way by exposing the existing commercial order as hopelessly behind the times, only for the former unknown, joke or both to place a bull’s eye on itself that will eventually result in its own replacement. Translated, what antitrust types describe in pejorative fashion is actually a loud sign of progress.
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