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THESE FOLKS AREN’T PLAYINGWITH MONOPOLY MONEY
T he “New Mutant Capitalism” has a lot of worrying features. Let’s not worry about the wrong ones. In particular, let’s not worry about whether these companies are “monopolistic.” The threat of monopoly in capitalistic commerce, industry, and finance has been a perennial bugbear for politicians, social critics, and do-gooders. Maybe this is because warnings against
monopolies go all the way back to the man who originally described how capitalism works. Adam Smith said in The Wealth of Nations , “The price of monopoly is upon every occasion the highest which can be got. The natural price, or the price of free competition... is the lowest which can be taken.” More likely, monopoly is a bugbear for do-gooders because they’re still mad about playing the Monopoly board game with the
By P. J. O’Rourke
66 | August 2017
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