4 ms·
> Monopolies are not illegal. Abusing a monopoly position to unfairly crush the competition is. That sounds nice and fairly reasonable. Unfortunately it's not
by baddox 11y ago
> Monopolies are not illegal. Abusing a monopoly position to unfairly crush the competition is.
That sounds nice and fairly reasonable. Unfortunately it's not necessarily true. In U.S. v. Alcoa [0], the Supreme Court [1] held that Alcoa's dominance in the aluminum market was illegal, despite the fact that their dominance was attained simply by regularly adding new industrial capacity and executing their business efficiently.
[0] https://en.m.wikipedia.org/wiki/United_States_v._Alcoa https://en.m.wikipedia.org/wiki/United_States_v._Alcoa
[1] actually the Second Circuit ruled on the Supreme Court's behalf; an interesting story for another day.