Chybné pojetí monopolu a jeho politicko-ekonomické důsledky
Year: 2002 Volume: 52 Issue: 11 Pages: 636-637
Abstract: The textbook meaning of monopoly is an existence of a dominant company operating on the relevant market. Such interpretation is incorrect. Being a dominant supplier is not essential for a monopoly. Defining monopoly as such results from a failure to recognize the fundamental differences involved in the causality that led to presence of an exclusive or dominating company. The essential, defining feature of a monopoly is not exclusive economic power itself but rather governmental authority (i.e., law) that mandates dominance and excludes competitors out of an industry. The standard approach is embedded in the theory of „perfect competition“. This theory utterly ignores reality in favor of an implausible world that contradicts empirical competitive entrepreneurial activity.
JEL classification: D41, D42, L4
Keywords: perfect competition; monopoly; antitrust policy
RePEc: n/a
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