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In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
A state monopoly can be characterized by its commercial behavior not being effectively limited by the competitive pressures of private organisations. [1] [2] This occurs when its business activities exert an extensive influence within the market, can act autonomously of any competitors, and potential competitors are unable to successfully compete with it.
Holding a dominant position or a monopoly in a market is often not illegal in itself; however, certain categories of behavior can be considered abusive and therefore incur legal sanctions when business is dominant. A government-granted monopoly or legal monopoly, by contrast, is sanctioned by the state, often to provide an incentive to invest ...
The state held a monopoly on land and natural resources, and enterprises operated under the legal framework of a nominally planned economy, and thus according to different criteria than enterprises in market and mixed economies. Nationalization is a process of transferring private or municipal assets to a central government or state entity.
The US government and 17 states are suing Amazon in a landmark monopoly case reflecting years of allegations that the e-commerce giant abused its economic dominance and harmed fair competition.
A legal monopoly, statutory monopoly, or de jure monopoly is a monopoly that is protected by law from competition. A statutory monopoly may take the form of a government monopoly where the state owns the particular means of production or government-granted monopoly where a private interest is protected from competition such as being granted exclusive rights to offer a particular service in a ...
Implicit in both statements is a belief that trust is automatically achieved via the involvement of a government entity. As someone who has worked at the Federal Deposit Insurance Corporation, the ...
The best example, Khan pointed out, involved the efforts by major book publishers to counteract Amazon's policy, rolled out in 2007, of pricing bestseller ebooks at $9.99, undercutting the ...