There is, however, a way of achieving a monopolistic position (exclusiveness in the market) that beneficially affects all concerned. Thus, they look upon any and all exclusiveness in the market as having none but evil characteristics. Exclusiveness in the market as a consequence of coercive force is the only form of monopoly most people envision. The same force joins with producers and distributors to limit access to markets, as in the case of cartels and other forms of trade restriction. Governmental force links itself with labor unions to keep workers from having free access to the labor market. Capone used private force to maintain an exclusive position in Chicago‘s beer market. In brief, monopoly in its popular and evil sense cannot be achieved except as coercive force-private or governmental-is employed on its behalf. 39), the bad form of monopoly is virtually impossible, assuming free exchange. Rise above others by excellence, or hold others down by coercive force!Īs the late Ambrose Winston so skillfully pointed out in his The Chimera of Monopoly (see p. The bad way is to use coercive force to keep others from competing effectively and also from challenging one’s position. The beneficial way is to become superior to everyone else in providing some good or service. One way is not only harmless-indeed, it is beneficial the other is bad. There are two ways to attain an exclusive position in the market, that is to say, there are two ways to achieve monopoly. Thus, there is little choice but to make out as best we can with the word monopoly. It may be simpler to correct the mistaken connotations.Īccording to dictionaries, the term monopoly means "exclusive control of a commodity or service in a given market." Monopoly and exclusive market position are interchangeable terms, so deeply imbedded one in the other that they possess semantic inseparability. But remedying mistaken connotations by inventing new words is, more often than not, a hopeless means of improving communication between people. The one-sided evil ascribed to monopoly is so pronounced in most people’s thinking that one is tempted to coin a new term to convey the idea of monopoly in its good sense. As if behavior were always thought of as misbehavior! The term monopoly, however, has taken on bad connotations to the point where goodness is rarely, if ever, associated with it. Monopoly may be good or it may be bad, in the sense that human behavior may be good or bad-according to whatever ethical standard we use to measure moral action.
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