Word: monopolists
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Dates: during 1970-1979
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...court said that the fact that Kodak dominated its field was no reason to penalize it for having taken the lead with the 110 system. "The mere possession of monopoly power does not ipso facto condemn a market participant," Kaufman wrote. Moreover, he added, "the first firm, even a monopolist, to design a new camera format has a right to the lead time that follows from its success...
...during the 1950s. During that period, a morning newspaper might buy its afternoon rival to consolidate costs, creating monopoly, or what A. J. Liebling called "profitable stagnation." The news that gets reported may not be all that's fit to print; sometimes it may be, like Pravda, what the monopolist decides is news...
...Harder they Come is a Jamaican film. Henzell, a rich white native of the island (producer, director and author) has made a film that sparkles with an understated, bitter native irony. For example, after waiting hours for the monopolist who controls the island's record business to emerge from the gates of his mansion, a group of six bedraggled hopefuls gathers around the hood of his gleaming white Mercedes and performs a carefully orchestrated song. The boss leans back for a moment, his sunglasses sharp stars in the sun, and suddenly interrupts them. "Too slow...
...named Napoleon in Sobel's history. Aaron Burr does not shoot Hamilton. There is no Civil War, although the C.N.A. and the United States of Mexico fight the Rocky Mountain War in 1845-52. Karl Marx remains an obscure German professor, but Bernard Kramer, an inspired monopolist, builds a business empire that becomes a world power by the middle of the 20th century...
...particularly nettlesome question is: do Friedman's theories suffice in today's part-free, part-regulated U.S. economy, where industrial oligarchies can virtually dictate some prices and monopolist labor unions can virtually dictate some wages? Such "important structural changes" in the economy "make Friedmanite solutions unrealistic," argues Economist John R. Bunting, president of First Pennsylvania Banking & Trust Co. "It would be wonderful if just fixing money-supply growth within an appropriate range would make inflation and other economic problems disappear...