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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

Many studies show that more highly concentrated industries lead to lower R&D spending as a percentage of sales. Furthermore, monopolies may spend money on R&D, but they are reticent to back new ventures, as they do not want to cannibalize their existing business or they do not want to move into new areas. For example, most of the inventions of Bell Labs were not used by AT&T but by others. Likewise, most of the inventions of Xerox's PARC laboratory were used by Apple and others, not Xerox.

Counter arguments

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Rejecting the premises

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This page was last edited on Sunday, 4 Nov 2018 at 17:07 UTC