What is a monopoly?

A monopoly is defined as a single seller in a given industry (appropriately defined). Being a single seller, by itself, is not good, nor evil — it depends on how one obtained that single-seller status. Did one obtain a monopoly by economic competition in the...

How are harmful monopolies created?

The sole source of harmful monopolies is the government, which is the only agency that has the power to force competitors out of business, i.e., it is the only agency that has the power to outlaw (i.e., regulate) competition. As evidence, witness the United States...