17.2 The Real Definition of Monopoly || Matthew Mežinskis
Channel: Wasabi Wallet
Date: 01/06/2021

Matthew explains how Marx had a flawed definition of a monopoly as a business that was so good in providing the good, that they “stole” a vast majority of the market share, to then raise prices to squeeze consumers. Rather, a monopoly is a business that can use the threat of government violence to keep new businesses away from entering the market. The monopolist has government privileges like licenses, tax subsidies, or patents. 

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