They effectively stifle innovation as the businesses that have strong ties with the politicians control most of the market, sometimes for a long time. Eventually, growth also stagnates because monopolies can easily get complacent and the end users have to put up with an average product/service that's becoming less valuable.
You are viewing a single comment's thread from:
Monopolists control the market as they deem fit because they have no competition, and you're right. At the end of the day, they become complacent, the aim for them is to stay within the shadows of politicians, so that these people can protect them from public scrutiny.
Right. Politicians should learn to have integrity and not put their nose in everything. They're the main culprits to stunt economic growth thanks to the biased policies.