Yaron Lectures: Free Market Revolution Book Tour - Shanghai
Yaron Brook Show
00:00
The Fallacy of Monopoly in Economics
J.D. Rockefeller had at some point, I think he had 92% of oil production in the United States. Now what do monopolists do? They raise prices and quality goes down. But if you go to the record, you discover that Rockefeller reduced prices at the year and quality of his product kept increasing. In a dynamic economy, in a dynamic market, I don't believe that controlling a huge percentage of our market over the long term can exist.
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