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Very Hot Topic (More than 25 Replies) Natural monopolies have existed? (Read 536 times)
Don_G
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Re: Natural monopolies have existed?
Reply #10 - May 7th, 2018 at 12:41pm
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SkyChief wrote on May 7th, 2018 at 12:36pm:
"Better to remain silent and be thought a fool than to speak and to remove all doubt." - Mark Twain


You missed the point but I expect it will kick in later. I expect one or two others got it right away but there's no way they could acknowledge it now.
  
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SkyChief
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Re: Natural monopolies have existed?
Reply #11 - May 7th, 2018 at 12:47pm
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Quote:
You missed the point but I expect it will kick in later. I expect one or two others got it right away but there's no way they could acknowledge it now.

Okay. I'll admit it.  I missed the point.  Please de-code this for me:

Quote:
the oil industry isn't a monopoly but at the same time 'is' a monopoly.
  
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Don_G
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Re: Natural monopolies have existed?
Reply #12 - May 7th, 2018 at 1:23pm
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SkyChief wrote on May 7th, 2018 at 12:47pm:
Okay. I'll admit it.  I missed the point.  Please de-code this for me:



Well, the oil industry isn't a monopoly. That's simple and not debatable.

But for instance, oil was manipulated down to $14/barrel before the Gulf war in order to starve iraq of profit. And then, accept this or not, Saddam intended to nationalize his oil resources and the US started the Gulf war on false pretenses of Kuwait's security/independence/etc.

I've just chosen that example but it could be as simple as the coost of gas at the pump.
  
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SkyChief
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Re: Natural monopolies have existed?
Reply #13 - May 7th, 2018 at 2:57pm
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Quote:
Well, the oil industry isn't a monopoly. That's simple and not debatable.


Sweet Athena, daughter of Zeus...  Roll Eyes   

We were talking about monopolies in the 1880s!

LOL!!    Grin    Grin    Grin    Cheesy
  
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Don_G
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Re: Natural monopolies have existed?
Reply #14 - May 7th, 2018 at 3:01pm
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SkyChief wrote on May 7th, 2018 at 2:57pm:
Sweet Athena, daughter of Zeus...  Roll Eyes   

We were talking about monopolies in the 1880s!

LOL!!    Grin    Grin    Grin    Cheesy


Oh, o.k. then my mistake. I was talking about monopolies. You didn't understand my point and I tried to clarify for you.

You're always going to be able to make your point better without the rows of smilie faces or the laughing man. But don't take my word for it.
  
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Jeff
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Re: Natural monopolies have existed?
Reply #15 - May 7th, 2018 at 5:23pm
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ahhell wrote on May 7th, 2018 at 10:29am:
My understanding is that while natural monopolies can arise...

I never heard of any. What did you have in mind?

Or just tell me what you mean by "natural monopoly". Thanks.
  
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Jeff
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Re: Natural monopolies have existed?
Reply #16 - May 7th, 2018 at 5:27pm
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SkyChief wrote on May 7th, 2018 at 11:35am:
A Monopoly is where a single entity has the exclusuve control of the supply or trade in a commodity or service.

In the 1880s, Standard Oil owned or conrolled 90% of all U.S. petroleum assets (refineries and pipelines).

Exclusive means all others are excluded. By definition, exclusive means 100%.

Standard Oil had competition, but rather than work hard to compete with Standard Oil, they chose to spend money on lobbyists and to buy Senators and convince them to break up Standard Oil and raise the selling price of gasoline and oil.

What a familiar story. Prices will have to go up by law for the "common good".
  
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SkyChief
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Re: Natural monopolies have existed?
Reply #17 - May 7th, 2018 at 7:21pm
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Jeff wrote on May 7th, 2018 at 5:27pm:
Exclusive means all others are excluded. By definition, exclusive means 100%.

Standard Oil had competition, but rather than work hard to compete with Standard Oil, they chose to spend money on lobbyists and to buy Senators and convince them to break up Standard Oil and raise the selling price of gasoline and oil.

Hmm...  I'll need time to fact-check this.   I'll be back...
  
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Don_G
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Re: Natural monopolies have existed?
Reply #18 - May 7th, 2018 at 7:39pm
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SkyChief wrote on May 7th, 2018 at 7:21pm:
Hmm...  I'll need time to fact-check this.   I'll be back...


Craig Sickler hardly ever tells the truth. But it's a good learning experience for you to do your own research and find out for yourself.
  
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The Opposition
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Re: Natural monopolies have existed?
Reply #19 - May 7th, 2018 at 10:17pm
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Libertarians define their philosophy so that monopolies in a free market are impossible.

Therefore the railroad must have either not been a monopoly, or must have been assisted to come about by government interference.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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