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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

Countless studies show that monopolies lead to higher prices when a strong company faces off against diffuse consumers. The evidence is laid out The Myth of Capitalism: Monopolies and the Death of Competition. Also, John Kwoka has done metastudies of mergers and shown that prices tend to rise when industries move below six major players. (In some cases monopolies may lower prices when monopolies abuse their market power to squeeze suppliers.)

Counter arguments

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Rejecting the premises

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This page was last edited on Sunday, 4 Nov 2018 at 17:05 UTC