Argentine self interest or fundamental principles?
Having taken the time to research and cover (in this substack essay) the CV and anarcho-capitalist logic of Argentine President (and economist) Javier Milei, I was familiar with most of the points made during his speech at the WEF earlier this week. However, his comments supporting monopolies were new to me, and have been nagging at me ever since.
What Is a Monopoly?
A monopoly is a situation in which a single company has complete control over the market for a particular product or service. This means that the company is the only player in the market and has no competition. As a result, the company can control prices, limit supply, and exert significant power over consumers.
How Do Monopolies Form?
Monopolies typically form when there are significant barriers to entry into a market. These barriers can include high start-up costs, regulatory requirements, or patents that protect a company’s intellectual property. In many cases, existing companies may also engage in anti-competitive practices, such as price dumping, predatory pricing, or other tactics designed to push out potential competitors.
