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Historically, monopolies were not merely expressions of corporate dominance; they were often manifestations of royal dictation, where monarchs would grant exclusive rights to trade. As capitalism evolved, particularly during the industrial revolution, public sentiment began to shift against monopolistic practices. Adam Smith, in his defense of free markets, posited that monopolies stifle competition and inflate prices, suggesting that unchecked corporate power could lead to societal oppression. This critique, rooted in a desire for equitable economic policies, has persisted through history.