The phrase "corner the market" means to gain control or monopolize a specific industry or product. The spelling of this phrase in IPA phonetic transcription is /ˈkɔːnər ðə ˈmɑːkɪt/. The "k" sound in "corner" and the "m" sound in "market" are pronounced with aspiration, where a small puff of air is released along with the sound. The "r" sound in "corner" is slightly rolled, while the "a" sound in "market" is pronounced as a long vowel.
To "corner the market" is a phrase used in economics and finance to describe a situation where an individual or entity manages to gain exclusive control or dominance over a particular market or product. This can be accomplished by purchasing a significant majority of the available supply or by creating barriers that limit entry for competitors.
When someone corners the market, it means they have acquired such a substantial share of the market's resources, such as raw materials, commodities, or stocks, that they effectively control the supply and can dictate pricing and market conditions. By having exclusive control, they can manipulate prices in their favor and potentially exploit the market.
In some cases, cornering the market may involve speculative activities, such as buying up large amounts of a commodity with the intention of selling it later at inflated prices for significant profits. However, regulatory bodies often closely monitor and regulate such practices to prevent market manipulation and protect fair competition.
The concept of cornering the market has both positive and negative consequences. On one hand, it can result in increased efficiency, economies of scale, and innovation. On the other hand, it can be detrimental to market competition, hinder fair pricing, and limit choices for consumers. Therefore, cornering the market is often a subject of both legal and ethical scrutiny.