In Search of Nirvana is all about my expat life since leaving London in 2008. First stop was the warm sunny Maltese Island of Gozo and then on to South West France. Read about the trials and tribulations, the up's and downs, the positives as well as the negatives.
Tuesday, July 15, 2008
Unrest in Malta.
A bit of education for you today, "The Encyclopedia of Business and Finance" not my normal read but I thought I would check out the meaning of the term Monopoly. Described thus,
'A monopoly, in its pure form, is actually quite rare. The majority of large firms operate in a market structure of oligopoly, which means that a few sellers divide the bulk of the market. People often have the impression that the goals of a monopolist are somehow evil and grasping while those of a competitor are wholesome and altruistic. The truth is that the same motives drive the monopolistic firm and the competitive firm: Both strive to maximize profits. A basic proposition in economics is that monopoly control over a good will result in too little of the good being produced at too high a price. Economists have often advocated antitrust policy, public enterprise, or regulation to control the abuse of monopoly power'.
So what does this have to do with anything, a fellow blogger Sabine tells the story in her own very carefully chosen words. Here
Competition is a painful thing, but it produces great results. Jerry Flint.