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Free Market

Capitalism and the Misunderstanding of Monopoly

Numerous misunderstanding and mythologies surround the meaning of capitalism and competition, but few match the confusions over the meaning and relevance of “monopoly” in the workings of the market economy. When looked at dispassionately, factually, and historically, monopoly has almost always represented a problem in society only when created, protected or imposed by government intervention. Critics of capitalism have proposed ...