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Monopolies can invest in innovation

Perfect competition erodes returns leaving little for R&D

Context

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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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Premises

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Rejecting the premises

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References

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Proponents

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