| ▲ | twoodfin 2 hours ago | |
Also, I’ve observed a rhetorical trend among the “anti-bigness” crowd towards defining “monopoly” down: “You may think a monopoly is an overwhelmingly dominant position as a supplier of a good or service, but that’s just naive popular economics! Acshually, according to the latest economic theories (by economists who share our politics), a monopoly is any firm that is big enough to have market power—like pricing power—to do things that can harm a competitor unfairly.” Us dummies will keep calling that competition. | ||