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> Monopoly isn't just about pricing power, and whatever else ancient economists observed in previous centuries. This understanding of monopoly has only existed
by andrewjl 5y ago
> Monopoly isn't just about pricing power, and whatever else ancient economists observed in previous centuries.
This understanding of monopoly has only existed since the mid-20th century. Prior to that, the definition of a monopoly was more expansive and included analysis of market & industry structure.
- timy2shoes 5y agoThe start of this line of thought was Robert Bork in 1978: https://en.wikipedia.org/wiki/The_Antitrust_Paradox https://en.wikipedia.org/wiki/The_Antitrust_Paradox
- dalbasal 5y agocheers both. I thought these were from the 20s.
- andrewjl 5y agoThe IMO best contemporary overview of the legal issue as it pertains to tech is this piece[1] by Lina Khan. Love the subtle irony I did not catch until today in the title, "Amazon's Antitrust Paradox". It cites and argues the opposite of the Bork piece in many respects. [1] https://www.yalelawjournal.org/note/amazons-antitrust-paradox https://www.yalelawjournal.org/note/amazons-antitrust-parado...