If the tendency of monopoly businesses were to hold back progress, they would be dangerous and we’d be right to oppose them. But the history of progress is a history of better monopoly businesses replacing incumbents.

It should be noted, moreover, that monopoly is frequently the product of factors other than the lower costs of greater size. It is attained through collusive agreement and promoted by public policies. When these agreements are invalidated and when these policies are reversed, competitive conditions can be restored.

traditionally monopolies' products do not improve much. and competition forces products to be better.

today, the opposite is happening.
high-competition spaces (like universities) are getting worse. low-competition spaces (like Amazon, Apple, Google) are getting better.

In business, money is either an important thing or it is everything. Monopolists can afford to think about things other than making money; non-monopolists can’t. In perfect competition, a business is so focused on today’s margins that it can’t possibly plan for a long-term future. Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.

But the world we live in is dynamic: it’s possible to invent new and better things. Creative monopolists give customers more choices by adding entirely new categories of abundance to the world. Creative monopolies aren’t just good for the rest of society; they’re powerful engines for making it better.

Los monopolios creativos no son sólo buenos para el resto de la sociedad; son poderosos motores para mejorarla.

It is the practice of monopoly concerns to move into new fields which supplement or even replace their old business. That is necessary to avoid their entire capital from being tied up in products that go out of fashion.

The dynamism of new monopolies itself explains why old monopolies don’t strangle innovation. With Apple’s iOS at the forefront, the rise of mobile computing has dramatically reduced Microsoft’s decades-long operating system dominance. Before that, IBM’s hardware monopoly of the ’60s and ’70s was overtaken by Microsoft’s software monopoly. AT&T had a monopoly on telephone service for most of the 20th century, but now anyone can get a cheap cell phone plan from any number of providers.

Who can object to a monopoly when there are several thousands of them? Who can object to a monopoly when every few years the company enjoying the monopoly revises, alters, perhaps even discards its product, in order to supply a superior one to the public? Who can object to a monopoly when any new company, if it is built around a scientific nucleus, can create a new monopoly of its own by creating a wholly new field?

Every monopoly is unique, but they usually share some combination of the following characteristics: proprietary technology, network effects, economies of scale, and branding.

la historia del progreso es una historia de negocios monopolísticos cada vez mejores que van reemplazando a los titulares anteriores.

To an economist, every monopoly looks the same, whether it deviously eliminates rivals, secures a license from the state, or innovates its way to the top. In this book, we’re not interested in illegal bullies or government favorites: by “monopoly,” we mean the kind of company that’s so good at what it does that no other firm can offer a close substitute. Google is a good example of a company that went from 0 to 1: it hasn’t competed in search since the early 2000s, when it definitively distanced itself from Microsoft and Yahoo!

With highly civilised nations continued progress depends in a subordinate degree on natural selection; for such nations do not supplant and exterminate one another as do savage tribes. Nevertheless the more intelligent members within the same community will succeed better in the long run than the inferior, and leave a more numerous progeny, and this is a form of natural selection. The more efficient causes of progress seem to consist of a good education during youth whilst the brain is impressible, and of a high standard of excellence, inculcated by the ablest and best men, embodied in the laws, customs and traditions of the nation, and enforced by public opinion. It should, however, be borne in mind, that the enforcement of public opinion depends on our appreciation of the approbation and disapprobation of others; and this appreciation is founded on our sympathy, which it can hardly be doubted was originally developed through natural selection as one of the most important elements of the social instincts.

Ever since monopoly capital took over the world, it has kept the greater part of humanity in poverty, dividing all the profits among the group of the most powerful countries. The standard of living in those countries is based on the extreme poverty of our countries. To raise the living standards of the underdeveloped nations, therefore, we must fight against imperialism. And each time a country is torn away from the imperialist tree, it is not only a partial battle won against the main enemy but it also contributes to the real weakening of that enemy, and is one more step toward the final victory.