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SLOPPY Defintion?

Give me a break. You got your definition from Wikipedia, the most notoriously unreliable encyclopedia in the word. Don't believe me? See what even wikipedia says about themselves:
http://en.wikipedia.org/wiki/WIKIPEDIA

OK. I'll give you the benifit of the doubt. Let's assume that Wikipedia's definition is canon.

In economics, a monopoly (from the Latin word monopolium - Greek language monos, one + polein, to sell) is defined as a persistent market situation where there is only one provider of a product or service. Monopolies are characterized by a lack of economic competition for the good or service that they provide and a lack of viable substitute goods

Even this description is neither illegal, nor is it neccesarily Unethical. There are many reasons why a company can be a monopoly. If company 'A' makes a product that is so simple and beautiful and reasonably priced, AND it's competitions products are so poor that nobody wants to buy them, the competition goes out of business and you might result in a monopoly. The consumer is not hurt because it results with them getting the best product on the market for a price that they, themselves are willing to pay for. None of this is illegal, unethical or hurts the consumer.
Now, this is a hypothetical situation. Obviously, monopolies exist all the time where company A might use it's capital and market position to puposefully create a condition where it's competition cannot compete. (see the link to the Microsoft case for an example.) But that's not what I was talking about.

Posted by: Tigertank   Posted on: 12/06/06 You are currently: a Guest | Members login | Terms of Use

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