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The danger of a monopoly lies in its ability to exploit a market, not in its longevity. Markets can change in ways that destroy monopolies. For example, if in
by jakelazaroff 8y ago
The danger of a monopoly lies in its ability to exploit a market, not in its longevity.
Markets can change in ways that destroy monopolies. For example, if in 1900 you had a monopoly on horse-drawn carriages, that wouldn't have prevented you from being put out of business by the advent of the automobile.
- BurningFrog 8y agoYou know that's a good point. Thanks! I think the distinction is between a monopoly disappearing because the market it owns disappears, or because it gets outcompeted in it.