Operating a monopoly

Forming monopoly cartels
Forming oligopolies
Exclusive possession of the trade in some commodity or resource, whether acquired or granted by law. Monopolies are held by one person, company or government; oligopolies by several, such as a cartel. In practice the monopoly needs to dominate a given sector to the point where fair competition ceases to exist and other producers lose their market and bargaining power.
Monopolies centralize the dealings of a commodity, allowing products, services and prices to be planned rationally as market and economic circumstances require.
Counter Claim:
Monopolies neglect the natural product improvements which occur through competition for markets, and concentrate excessive wealth and power in the hands of a few people. Labour viewed as a service commodity may be unfairly monopolized by trade unions with a result of driving the cost of labour up and restricting training and work-force entrance opportunities to youth, women, migrants and minorities.
Facilitated by:
Advocating oligarchy
Type Classification:
C: Cross-sectoral strategies
Related UN Sustainable Development Goals:
GOAL 10: Reduced Inequality