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The word monopolies has negative connotations in economic history, but recently monopolies have been praised by people such as Warren Buffett an Peter Thiel. The arguments for and against are not new, but some of the arguments for and against now have better empirical support.


Arguments supporting this position



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The Argument

If all industries were perfectly competitive, there would be no excess profit to dedicate to investment and R&D. Perfectly competitive industries also lead to boom/bust dynamics as ease of entry and exit lead to oversupply when prices are high and undersupply when prices are low. Monopoly markets create excess capital that can be funneled back into R&D and innovation.

Counter arguments

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Rejecting the premises

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This page was last edited on Sunday, 4 Nov 2018 at 16:58 UTC