"But monopoly and its attendant market power frustrate the theoretical assumptions for how free markets should operate, instead creating the means, the motive, and the opportunity for anti-competitive practices that maximize one firm’s profits at the expense of investment, innovation, and consumer welfare."
Indeed, but the rest of your essay implicitly suggests the most important reason monopoly power is bad: it gives undue political power to monopolists.
I’m not fond of nor prone to government market interference. But this seems a fairly compelling case.
That is one dumbass idea.
This attitude left us without a Bell Labs, and we are much worse for it.
"But monopoly and its attendant market power frustrate the theoretical assumptions for how free markets should operate, instead creating the means, the motive, and the opportunity for anti-competitive practices that maximize one firm’s profits at the expense of investment, innovation, and consumer welfare."
Indeed, but the rest of your essay implicitly suggests the most important reason monopoly power is bad: it gives undue political power to monopolists.
I started reading this because I thought the title was a joke