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> Let's take Standard Oil. They never had a monopoly - at their peak they had a 90% market share. Out of curiosity in calibrating your definition of "monopoly"
by somecontext 9y ago
> Let's take Standard Oil. They never had a monopoly - at their peak they had a 90% market share.
Out of curiosity in calibrating your definition of "monopoly", can you give an example of a monopoly (past or present) together with an estimate of their market share? Thanks.
- WalterBright 9y agoSure. The USPS has a monopoly on first class mail. Market share = 100%. The government prosecutes anyone else who tries to do it. Up until a couple years ago, in Washington State, hard liquor could only be sold through state stores. 100% market share. The plumber's union is a monopoly. It is illegal to hire a non-union plumber. 100% market share. Anyone holding a patent, trademark, or copyright has a monopoly. 100% market share by law.
- xapata 9y agoAre you aware that federal law uses a different definition of "monopoly"?