Monopolies Fail

A monopoly is an organization with an enforced right to produce a certain product or service.

Another company cannot compete, not because it lacks the ability in and of itself, but because it is forcibly stopped by the guns of government.

Without competition the quality of the good served has no pressure to increase.

Even the threat of competition drives innovation.

If that’s so, how could government, which economically is defined as a monopoly on violence, be beneficial?

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