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In United States antitrust law, monopolization is illegal monopoly behavior. The main categories of prohibited behavior include exclusive dealing, price discrimination, refusing to supply an essential facility, product tying and predatory pricing. Monopolization is a federal crime under Section 2 of the Sherman Antitrust Act of 1890.
Coercive monopolies can arise in free market or via government intervention to institute them. [3] [4] [5] Some conservative think tanks, such as the Foundation for Economic Education, define coercive monopolies solely as those established by the government or via the illegal use of force, excluding monopolies that arise in the free market. [6]
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]
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.
When it was filed in 2020, the Google search case was the first time in a generation that the U.S. government accused a major corporation of an illegal monopoly.
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.
Illegal in most places, predatory pricing, however, is difficult to prove. See antitrust. In the context of international trade, such practices are often called dumping. Occupational licensing – Examples include educational, licensing, and quota limits on the number of people who can enter a certain profession.
The Justice Department on Thursday announced a sweeping antitrust lawsuit against Apple, accusing the tech giant of engineering an illegal monopoly in smartphones that boxes out competitors ...