Some people think that governments should give financial support to creative artists such as painters and musicians. Others believe that creative artists should be funded by alternative sources. Discuss both views and give your own opinion.
On a larger political scale, the debate may focus on how free or how socialized should a market be, but among those that believe the markets should be as free as possible there is still concern over monopoly practices and how the government could be used as a tool to respond to them.
The first step in understanding and forming conclusions in this debate is to determine a definition of monopoly. The three offered here are: One seller or producer of a good or service; the establishment of a monopoly price; and a firm or corporation that has been granted market power and special status by the government, either directly or indirectly.
Also, the requirements for competition must be established, which economic textbooks may point to as: The first definition of monopoly is that of one seller or producer of a good or service. While this is a very clear cut and precise definition of monopoly its application is much less so and its use to justify government intervention is even more hazy.
The application of this definition becomes difficult when one has to determine what constitutes a single product or service.
Since there will be some sort of differentiation between every product offered by different people one could rationally claim that everyone is a monopolist.
This is further complicated if we accept that fact that the point that the differentiation is substantial to lead to a product being categorized by a different product is solely in the mind of the consumer and can not be defined by any specific attributes or by committee.
The second flaw with the use of this definition is when it is used to justify government intervention in the markets based on misconceptions of individual rights and freedom.
While individuals do have the freedom to act on available choices they are not entitled to any certain number of choices.
If there truly was only the choice of purchasing a product or service from one producer or not purchasing it at all then the individual is free to act on that choice, not require more choices be made available to him.
To argue otherwise is to adopt the fallacy of confusing freedom with abundance or range of choice.
Similarly,…any buyer can set any price at which he will purchase a certain good; the question is whther he can find a seller at that price. The third definition of monopoly is the original definition of government granted, direct or indirect, market power or protected status.
The rationalization used is that certain industries, due to high fixed costs, economies of scale, and land usage limitations, are better served by having a single provider.
The conclusion is that government should choose a single provider and protect them from competition while at the same time heavily regulating the selected monopoly to prevent monopoly pricing and pass the savings of the increased efficiency on to the customer. However, history does not seem to support this theory.
Initially the monopoly was due to patents that Alexander Graham Bell held from to However, after the patents expired and competition was able to set in daily calls per 1, jumped from 37 in to Patents are probably the most common and most accepted, among capitalists, form of government barriers to competition since they supposedly protect the innovations of individuals and allow them to reap the benefits of research, investment and ingenuity without someone else profiting from an idea they did not share the costs in discovering.Regent’s on-campus and online courses in Communication & the Arts equip graduates for successful careers in film & TV, theatre, news, and strategic and political communication.
Published: Fri, 12 May TECHNICAL, VOCATIONAL EDUCATION AND TRAINING (TVET) IN SOMALIA EXECUTIVE SUMMARY.
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Essay illustrating that the only way for a true monopoly to be formed is through coercion, usually exercised by government. But the government pricing regulations under discussion are very different from the FDA regulations that are causing the problem.
The writer of this article may oppose those regulations, and be taking them as fixed, saying that given their existence, medical prices must be controlled.
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