Search results
Results From The WOW.Com Content Network
In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
The government may also reserve the venture for itself, thus forming a government monopoly, for example with a state-owned company. [ citation needed ] Monopolies may be naturally occurring due to limited competition because the industry is resource intensive and requires substantial costs to operate (e.g., certain railroad systems).
It is a monopoly created, owned, and operated by the government. It is usually distinguished from a government-granted monopoly, where the government grants a monopoly to a private individual or company. A government monopoly may be run by any level of government—national, regional, local; for levels below the national, it is a local monopoly.
Jirat Teparaksa/Shutterstock.com. 6. De Beers. De Beers is one of the most controversial companies among the biggest monopolies of all time, which is saying something.
The United States Postal Service is an example of a coercive monopoly created through laws that ban potential competitors such as UPS or FedEx from offering competing services (in this case, first-class and standard (formerly called "third-class") mail delivery). [14] Government monopolies also mandate taxpayers to subsidize these firms.
OneLegacy, the OPO with a monopoly in southern California, got dinged by an inspector general report after it spent $327,000 on Rose Bowl tickets and other events in 2006. Some of those costs were ...
The theory of state monopoly capitalism (also referred as stamocap) [1] was initially a Marxist thesis popularised after World War II. Lenin had claimed in 1916 that World War I had transformed laissez-faire capitalism into monopoly capitalism , but he did not publish any extensive theory about the topic.
Implicit in both statements is a belief that trust is automatically achieved via the involvement of a government entity. As someone who has worked at the Federal Deposit Insurance Corporation, the ...