Monopolies in the US
1) In the US there are several companies which could be considered monopolies. They include the firms involved in different areas, such as Microsoft Corporation and Google, engaged in hi-tech industry, ESPN, which conducts sports broadcast, or Monsanto, which almost controls the soybean market. These companies enjoy a serious lead in their market share which allows to consider them de facto monopolies.
2) There are some explicit characteristics which allow to consider the companies to be monopolies. These companies are price makers in their field, i.e. decide on the price of good. Also, the monopolies are preventing another companies from entering the market due to difficulties connecting with challenging a monopoly. The whole market becoming served by firm lowers the competitiveness and might decrease the quality of the goods.In case of Microsoft, its accusation of being a monopolist are in providing Internet Explorer web browser along with Windows operating system, which makes every Windows user to have a copy of browser. It limited the competitive opportunities of other browsers (253 F.3d 34).
Also, Microsoft is criticized for its predatory strategies in the market. Monsanto, having the domination in the soybeans industry, is steadily increasing the prices for the patented seeds for the farmers, with the price having doubled since the previous decade. The company also has ruthlessly stifled competition against another smaller producers (Whoriskey, n.p). The ESPN has a monopoly on sports broadcast, which according to critics blurs the lines between journalism and entertainment and allows it to dictate its conditions. The company has controls of what the audience watches, when and how, and does not have direct competitors (Stankovich, n.p.). Finally, in case of Google, the company dominates the search engines in the Internet, however another problem is its unique access to data of the users, and its use in the commercial aims (The Guardian, n.p.), which poses not only economic, but potentially a security problem.
3) The main regulation which the monopolistic companies are violating are the provisions of the US antitrust law, which includes Sherman Act of 1890 (which was aimed against monopolies), Clayton Act of 1914 (targeting anticompetitive practices and price discriminations) and the Federal Trade Commission Act of 1914 (aimed at preventing the unfair competition and harming the customers).
4) Speaking about the remedies to address these monopolies, they are largely connected with the pressure of public. Also, the remedies to deal with them may include prohibitory activities, affirmative-obligation and structural remedies, and monetary instruments (US Department of Justice, n.p.).
5) In the US history, the monopolies had an important role in terms of developing the economy, and until the Sherman Act of 1890 outlawed the anticompetitive business, they remained legal and could develop efficiently. The examples of monopolies which existed in the US are belong to different areas of economy. The Standard Oil, controlled by Rockefellers, was a conglomerate for oil production, transportation and marketing which controlled …
