Examples of Monopolies:
International Diamond Trade (DeBeers)
Local Daily Newspaper in many areas
Refreshments at public entertainment (Movies, Zoos, Concerts, Sporting Events etc.)
Local Utilities (Natural Monopolies)
   You can probably think of many other monopolies of one sort or another. Notice again that none of these is a large US firm. As we will see in the section on Industrial Policy, US law prevents monopolies. Indeed, in larger cities where there is a single daily newspaper, the Justice Department had to make a determination that cost factors only permitted one profitable paper in order for the mergers that inevitably led to a single paper to be legal.

Copyright © 1995-2004 OnLineTexts.com, Inc. - All Rights Reserved