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Corporatocracy [a] or corpocracy is an economic, political and judicial system controlled or influenced by business corporations or corporate interests. [ 1 ] The concept has been used in explanations of bank bailouts , excessive pay for CEOs , and the exploitation of national treasuries, people, and natural resources . [ 2 ]
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.
In many countries, the postal system is run by the government with competition forbidden by law in some or all services. Also, government monopolies on public utilities , telecommunications and railroads have historically been common, though recent decades have seen a strong privatization trend throughout the industrialized world .
Jirat Teparaksa/Shutterstock.com. 6. De Beers. De Beers is one of the most controversial companies among the biggest monopolies of all time, which is saying something.
The government may also reserve the venture for itself, thus forming a government monopoly, for example with a state-owned company. [citation needed] Monopolies may be naturally occurring due to limited competition because the industry is resource intensive and requires substantial costs to operate (e.g., certain railroad systems). [3]
These entities were sometimes awarded legal monopoly in designated regions of the world, such as the British East India Company. Furthermore, the context of the quote points to the complications inherent in chartered joint-stock companies. Each company had a Courts of Governors and day-to-day duties were overseen by local managers.
On the new season of Reason's podcast Why We Can't Have Nice Things, Erickson explains how Congress' good intentions produced a flawed system that has resisted reform for decades. In the 1980s ...
Scroll through to find out what Trump and ten more of the world's most powerful people have to say about ambition, command, and leadership. Melissa Stanger contributed to an earlier version of ...