Monopoly, which means "exclusive control of a commodity or trade,” traces its English origin back to the 1530s. The word is derived from the Latin word monopolium and from the Greek word monopolion meaning "right of exclusive sale.” Many take it for granted that the free-market produces monopolies. Yet, the word was used to refer to grants of privilege that European governments made to large, lucrative companies such as the Dutch East India Company.
Is Government the Source of Monopoly?
Is Government the Source of Monopoly?
Is Government the Source of Monopoly?
Monopoly, which means "exclusive control of a commodity or trade,” traces its English origin back to the 1530s. The word is derived from the Latin word monopolium and from the Greek word monopolion meaning "right of exclusive sale.” Many take it for granted that the free-market produces monopolies. Yet, the word was used to refer to grants of privilege that European governments made to large, lucrative companies such as the Dutch East India Company.