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“Markets are free when human beings have equal opportunities to influence the production and trade of desirable goods and services... Some people attain market control and set market prices due to favourable natural, social or political conditions: They attain a monopoly. The problem with monopolies is that they enable those who have attained them to extract money from society without providing goods or services of corresponding value. Apart from abolute monopolies, monopolies can also occur when the market is simply closed to new participants because overall supply can't be increased; these are known as entry monopolies.” — Martin Adams
Markets are free when human beings have equal opportunities to influence the production and trade of desirable goods and services... Some people attain market control and set market prices due to favourable natural, social or political conditions: They attain a monopoly. The problem with monopolies is that they enable those who have attained them to extract money from society without providing goods or services of corresponding value. Apart from abolute monopolies, monopolies can also occur when the market is simply closed to new participants because overall supply can't be increased; these are known as entry monopolies.