Monopoly: n. is a business where there are many buyers and one seller or samer business for ingus thus making possible the assigning of relatively large prices without pressure and/or fear that a competitor will offer a smaller price and is usually a business having 90% or more control of ingus (government is a monopoly with 100% control)
Ingus: n. information and/or goods and/or services
The 21st century will be the age of international monopolies in many areas. With so many brand names it is not obvious that there are huge monopolies behind the brand names which control their pricing.
Almost all sunglasses are made by one manufacturer as well as almost all computer laptops including Apple. With the exception of craft beers most popular beer brands are controlled by one company. It is standard practice to buy out competitors once they reach a certain size rather than to compete with them with similar brands although that is also done by monopolies.
Oil may not seem like a monopoly with so many gas companies but with oil prices per barrel being standard worldwide all gas companies are really colluding with one another and have the same pricing policy which is effectively a worldwide monopoly. Your local gas stations are a perfect example where all the prices rise and fall at the same time and are the same in one local area. There is no competition anymore but true monopoly practices which set prices to levels at which they make the most profit.
Monopolies have a tendency to stifle innovation and product improvement and in the food industry they are the major obstacle to growing healthy organic food for the consuming public. They are destroying biodiverse food at a rapid clip. I don’t mind so much the standardization of products but I do strongly object to the standardization of crappy unhealthy over processed food for which monopolies and an uninformed public are to blame.
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uldissprogis 