The Birth of Monopoly, Alias Domestic Extreme Protectionism
10 Pages Posted: 17 Dec 2014 Last revised: 18 Dec 2014
Date Written: December 15, 2014
Abstract
This paper rejects the traditional monopoly model and works out a completely new one. It also offers a more concrete measure of the loss due to monopoly. Most economists regard monopoly and protectionism is the same, but this paper proves that they are not. Monopoly is the extreme form of protectionism; it is the elimination of both foreign and domestic competitors. This paper also introduces a new concept: domestic protectionism, and shows that it is more harmful than foreign protectionism.
Keywords: Monopoly, Protectionism
JEL Classification: D42, F13
Suggested Citation: Suggested Citation
Choi, Hak, The Birth of Monopoly, Alias Domestic Extreme Protectionism (December 15, 2014). Available at SSRN: https://ssrn.com/abstract=2538910 or http://dx.doi.org/10.2139/ssrn.2538910
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