Monopoly (n.)

Monopoly (n.)

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Definition

Monopoly

Noun
Exclusive possession of or ability to trade in a particular commodity, piece of information, or service.

Also a privilege to such an exclusive deal granted by a government.

History & Etymology

Thales, an ancient greek philosopher, held the first monopoly in recorded history. Aristotle tells in his work on politics how Thales came to monopolise the olive press market. Thales was trying to prove the usefulness of philosophy to his fellow countrymen so he planned a little demonstration of the knowledge of weather he had gained through philosophical methods. So when he predicted a particularly large crop of olives one year he purchase all of the olive presses in the city at a discounted rate out of season, and when the crops came in as big as Thales predicted all of the farms had to pay him whatever he wanted for access to the presses.

The Greek word Aristotle used to describe Thales monopoly was monopōlion. From monos meaning “singular or one”, and polien meaning “to sell”

The word monopoly has come to refer to much more than just control over products and services. It even now applies to ideas, information, and even violence.  Most of the time these monopolies are put in place by a government, if they aren’t the government itself.

The british empire throughout most of its history was run by monopolies like the East India Trading Company. If anyone wanted to start a shipping venture or an import export business they would have to get permission from a government. This form of control over industry still happens today through things like licensing, and copyright.

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Article 11 & 13
Tim Pool: https://youtu.be/cp8S3VJKQrA
Computing Forever:https://youtu.be/Y_CrjfToAns
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CGP Grey:https://www.youtube.com/watch?v=tk862BbjWx4
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Sources

https://en.wikipedia.org/wiki/Monopoly

https://www.etymonline.com/search?q=Monopoly

https://en.wikipedia.org/wiki/Thales_of_Miletus

https://en.wikipedia.org/wiki/Monopoly#Origin

https://www.etymonline.com/word/monopoly#etymonline_v_17463

https://en.wikipedia.org/wiki/Mercantilism

https://en.wikipedia.org/wiki/Government-granted_monopoly

https://en.wikipedia.org/wiki/East_India_Company#Forming_a_complete_monopoly

https://www.youtube.com/watch?v=39Em6t0G7Fc

https://www.youtube.com/watch?v=tk862BbjWx4

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