I agree that Carnegie’s US Steel is not the type of “monopoly” that I consider socially harmful. I seem to remember that there is empirical evidence (though I don’t know where) that monopolies due to superior product quality/price are actually fragile, and long-term monopolies must be maintained by legal privileges to survive. (If anybody remembers where, I’d appreciate a reference.)
I agree that Carnegie’s US Steel is not the type of “monopoly” that I consider socially harmful. I seem to remember that there is empirical evidence (though I don’t know where) that monopolies due to superior product quality/price are actually fragile, and long-term monopolies must be maintained by legal privileges to survive. (If anybody remembers where, I’d appreciate a reference.)
Leaving aside Carnegie Steel, would you consider either AT&T or Microsoft to be socially beneficial monopolies?