Essay: Perfect Monopoly

Sample Essay

Words 1,820

This essay discusses concepts of perfect monopoly. One of the assumptions of capitalist economies is that market-oriented organisations should outperform organisations structured along other means. We will examine that proposition by contrasting market-oriented economies with monopolies.

One of the assumptions of capitalist economies is that market-oriented organisations should outperform organisations structured along other means. We will examine that proposition by contrasting market-oriented economies with monopolies. Of course, it is difficult to say whether a perfect monopoly or a state of perfect competition is a better market structure because the pure form of either market situation is in fact unlikely ever to occur. There is always in the former case likely to be some black market activity and in the case of the latter some form of protectionism. In general, we have been taught that the freer the market the better (at least for the consumer). This paper examines the assumptions beneath that bit of conventional wisdom.

We can perhaps best understand the rather abstract issues of monopoly and free market if we place them within a concrete context that we all understand – such as the United States’s Justice Department’s recent and certainly not entirely successful attempt to use the power of the American federal government to prevent Microsoft from using monopolistic practices. This was a case that was met with a great deal of emotional heat, suggesting that people at large care about such a case deeply.

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