The Complexities Of Monopolies

Monopoly

When there is one person who holds the reins, exploitation is bound to happen. It can be seen across various spheres in our lives. The markets call it a monopoly. In either case of the buyer or seller being the single player, he/she can bend the rules to suit themselves. A seller can charge exorbitant rates and expect the products to be sold because no one else is offering anything similar. In the opposite scenario, a buyer can expect to receive the goods at minimum rates else the company will shut down. Simply put, life plays out the complexities Of Monopolies.

Both way, no common consensus is reached and one party ends up feeling exploited and the market fails in the long run. The government can step in, as it does more often than not, to put in place certain restrictions that may limit any unfair transaction. It may regulate the quality or cap prices, in extreme situations, it can break down a company to create competition.

Unfortunately, when people are in question, we don’t always have a government to rescue us; monopolies, however, do exist. When one person is allowed to have a greater say and given more importance, it stands the risk of becoming exploitative.

People don’t work like markets and don’t expect them to behave rationally because man as a rational animal is a mere economic assumption. Single players exist in relationships as does exploitation. And when you know a government won’t step in to regulate it for you, because at the most your friends and family, the third party in question, can only offer advice, get up and be your own government; break down the monopoly if you must.

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Devika Soni
Devika Soni