Politicko-ekonomické důsledky chybného pojetí monopolu

Political/economic consequences of mistaken concept of monopoly

Jiří Kinkor

Politická ekonomie, 2003, vol. 2003, issue 3

Abstract: It is generally established that the concept of monopoly refers to an existence of a single company operating on the relevant market. This interpretation, though commonly accepted and echoed by all textbooks, is incorrect. The fact of being a single supplier is not essential in forming the concept of monopoly. The essential feature of monopoly is not the fact of a single company as such but the fact of the government physical force (i.e. law) mandating the privilege of exclusivity and keeping potential competitors out of an industry. But the defect in traditional conception of monopoly had to wait - until economists invented the theory of perfect competition - before it could lead to the routine attacks against the very nature of business through the government anti-trust legislation. The concept of monopoly must be redefined and reconstructed and the vitally important distinction between economic power of business and political power of government must be recognized.

Keywords: monopoly; perfect competition; antitrust policy (search for similar items in EconPapers)
JEL-codes: D41 D42 L40 (search for similar items in EconPapers)
Date: 2003
References: Add references at CitEc
Citations:

Downloads: (external link)
http://polek.vse.cz/doi/10.18267/j.polek.411.html (text/html)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlpol:v:2003:y:2003:i:3:id:411

Ordering information: This journal article can be ordered from
Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
http://polek.vse.cz

DOI: 10.18267/j.polek.411

Access Statistics for this article

Politická ekonomie is currently edited by Jiřina Bulisová

More articles in Politická ekonomie from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().