Immunize yourself against the myths of monopolies in ten minutes

[discojoe]

[ame=http://www.youtube.com/watch?v=eO8ZU7TeKPw&videos=1BhHnBPfT5k]YouTube - Evil Monopolies Are Fairy Tales In Free Markets[/ame]

[Gilly]

The problem is not the existence of monopolies, but the fact that the actions of their owners, with regards to what they do with their power, cannot be controlled, and that they will default to wringing every cent they can out of consumers, which is just bad for the greater populace. What if we let companies run wild, and one of them gets a monopoly on, say, water or electrical infrastructure? Everybody will always pay, and an unregulated monopoly will run people into the ground because they know their product is needed.

And yes, their are localized monopolies on such things today, but fortunately government is there to back us up to prevent them from abusing us completely. What would happen if they were allowed to run rampant? Simple fact of nature: predators eat their prey.

[discojoe]

The problem is not the existence of monopolies, but the fact that the actions of their owners, with regards to what they do with their power, cannot be controlled, and that they will default to wringing every cent they can out of consumers, which is just bad for the greater populace. What if we let companies run wild, and one of them gets a monopoly on, say, water or electrical infrastructure? Everybody will always pay, and an unregulated monopoly will run people into the ground because they know their product is needed.

Did you watch the video? It explains how competition makes it impossible for monopolies to do what you're saying.

And yes, their are localized monopolies on such things today, but fortunately government is there to back us up to prevent them from abusing us completely. What would happen if they were allowed to run rampant? Simple fact of nature: predators eat their prey.

The kinds of monopolies you're talking about are called natural monopolies, and they only exist because government grants monopoly rights to cable companies, for example, under the mistaken belief that prices are cheaper in such industries under monopolistic conditions.

[Gilly]

Where in the video does it talk about that?

[discojoe]

Where in the video does it talk about that?

4:15 and 8:10.

[1981slater]

* The power grid and the railroads are natural monopolies*

Myths about Monopoly (board game):

-It has an end
-Normal people love it
-It enhances friendships
-It's funny