Are monopolies moral?

The presence of a monopoly functioning in an industry is ethically justifiable, because it could be a solution to some economic problems such as deflation. Deflation is defined as the decrease in prices, which could lead to negative impacts on households and employment in the economy.

Who suggested that the state is defined by its monopoly of the means of legitimate violence?

Max Weber
In his lecture “Politics as a Vocation” (1918), the German sociologist Max Weber defines the state as a “human community that (successfully) claims the monopoly of the legitimate use of physical force within a given territory.” Under feudalism, no lords, including the king, could claim a monopoly over the use of …

What is monopoly in sociology?

(noun) a situation in which one party or company exclusively provides a particular product or service, dominating that market and generally exerting powerful control over it.

What’s good about monopolies?

The advantage of monopolies is the assurance of a consistent supply of a commodity that is too expensive to provide in a competitive market. The disadvantages of monopolies include price-fixing, low-quality products, lack of incentive for innovation, and cost-push inflation.

Is a monopoly ever justified?

Usually, monopolies are associated with various drawbacks, including low output and exorbitant prices. Some of the notable justifications of monopolies include the fact that they are in a better position to sponsor development and research and also reap the benefits of lower average costs.

Why is monopoly of violence important?

State-free territories are facing political communities with a high degree of statehood. The chapter points out that particularly for democracies the maintaining of the monopoly of violence is of fundamental importance since it guarantees that legitimate decisions have the chance to be enforced.

What is the state monopoly on violence?

The legitimate state monopoly over the means of violence is a condition in which a state’s security forces operate lawfully under a legitimate civilian authority, where actors conduct themselves in accordance with democratic norms and principles of good governance.

What are the reasons for monopoly?

7 Causes of Monopolies

• High Costs Scare Competition. One cause of natural monopolies are barriers to entry.
• Low Potential Profits Are Unattractive to Competitors. Potential profits are a key indicator to potential businesses.
• Ownership of a key resource.
• Patents.
• Restrictions on Imports.
• Baby Markets.
• Geographic Markets.

Why does the government need to maintain competition?

Competition is the fuel that drives America’s free-market system. The FTC supports free and open markets by protecting competition, so that consumers reap the benefits of a vigorous marketplace: lower prices, higher quality products and services, and greater innovation.

Can the state monopoly on the legitimate use of physical force be challenged?

The state monopoly on the legitimate use of physical force can be challenged by a number of nonstate actors such as political insurgents or terroristsor by state actors such as the military forces claiming autonomyfrom the state.

What is the nature and morality of government?

The Nature and Morality of Government. Government is, by definition, a “social monopoly of force.”. The greatest instrumentalities of force which have ever been assembled, the police forces and armies of the world, are at the disposal of governments.

What is the monopoly of the state on violence?

State monopoly on violence, in political science and sociology, the concept that the state alone has the right to use or authorize the use of physical force. It is widely regarded as a defining characteristic of the modern state.

Is monopoly possible in a market economy without government?

The more one examines Ameri­can labor law the more one be­comes convinced of the validity of Professor Mises’ theory that no abusive monopoly is possible in a market economy without the help of government in one form or an­other.