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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 .
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.
Monopolies can be formed by mergers and integrations, form naturally, or be established by a government. In many jurisdictions, competition laws restrict monopolies due to government concerns over potential adverse effects. Holding a dominant position or a monopoly in a market is often not illegal in itself; however, certain categories of ...
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.
Elizabeth I assured monopolies would not be abused in the early era of globalisation. Europe around the 15th century was changing quickly. The new world had just been opened up, overseas trade and plunder was pouring wealth through the international economy and attitudes among businessmen were shifting.
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Rate-of-return regulation (also cost-based regulation) is a system for setting the prices charged by government-regulated monopolies, such as public utilities.It attempts to set prices at efficient (non-monopolistic, competitive) levels [1] equal to the efficient costs of production, plus a government-permitted rate of return on capital.
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 ...