MONOPOLY CAPITALISM Meaning and
Definition
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Monopoly capitalism refers to an economic system that is characterized by the dominance and control of a few large corporations or monopolies over a particular industry or sector. In this system, a limited number of powerful corporations are able to effectively eliminate competition and establish their dominance in the market, leading to an imbalance of power and control.
Under monopoly capitalism, these dominant corporations possess significant market power, which allows them to manipulate prices, set their own terms, and exert control over the production and distribution of goods and services. This concentration of power can lead to the exploitation of consumers through higher prices, reduced product variety, and limited choices.
The concept of monopoly capitalism also entails the fusion of monopolistic economic power with political influence. These dominant corporations often have close ties and exert substantial influence over governments and regulatory bodies, enabling them to shape policies and regulations in their favor. This symbiotic relationship between big business and government can further strengthen their market position and suppress potential competition.
Critics of monopoly capitalism argue that it stifles innovation, reduces economic efficiency, and perpetuates income inequality. They contend that these monopolistic corporations can abuse their dominant market position, engage in anti-competitive practices, and hinder the growth of smaller businesses.
Overall, monopoly capitalism refers to an economic system wherein a few large corporations wield significant control over the market, leading to reduced competition, potential exploitation of consumers, and an imbalanced distribution of power and wealth.
Common Misspellings for MONOPOLY CAPITALISM
- nonopoly capitalism
- konopoly capitalism
- jonopoly capitalism
- minopoly capitalism
- mknopoly capitalism
- mlnopoly capitalism
- mpnopoly capitalism
- m0nopoly capitalism
- m9nopoly capitalism
- mobopoly capitalism
- momopoly capitalism
- mojopoly capitalism
- mohopoly capitalism
- monipoly capitalism
- monkpoly capitalism
- monlpoly capitalism
- monppoly capitalism
- mon0poly capitalism
- mon9poly capitalism
- monoooly capitalism
Etymology of MONOPOLY CAPITALISM
The word "monopoly capitalism" is a compound term comprising of two components: "monopoly" and "capitalism".
The term "monopoly" comes from the Greek words "monos" (meaning "alone" or "single") and "polein" (meaning "to sell"). In English, "monopoly" refers to a situation where a single entity or group has exclusive control or ownership over a particular market or industry. It implies the absence of competition.
The term "capitalism" has its roots in the Latin word "capitalis", which relates to "capital". "Capital" refers to wealth or assets that are utilized in order to produce more wealth. Capitalism is an economic system where private individuals or corporations own and control the means of production, distribution, and exchange of goods and services. It entails the pursuit of profit, free markets, private ownership, and competition.
