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Listening to this speech by Dr. Per Bylund was interesting. I wouldn’t say it was eye opening, as I realized what he was talking about a few years ago. If you offer nothing new to the market, then you’re nothing to the market. In summary, Dr. Bylund’s speech says that a monopoly in the market sort of does not exist. There is always a chance that someone else can be innovative enough to “take down” a monopoly. The only way for a monopoly on the market to really exist is if there are laws in place that restrict competition in the market. What he’s saying is also true. By abusing the law, monopolies can exist; however, without this kind of power there are no monopolies that truly control the market. Power is the issue, and Dr. Bylund addresses this throughout the entire speech, so I won’t dig into it too much here. I will, however, dig into my thoughts on the matter, such as how Dr. Bylund’s speech doesn’t produce any solutions but instead brings awareness to the situation, and how long and arduous the current market system is when it comes to innovation to “dethrone” whichever company is on top in their specific field.
Do monopolies exist?
I feel like the simple and easy answer to the question, “do monopolies exist” is yes. Monopolies do exist, and they have existed before. Now if the question is asked in the present tense, I would have no clue how to answer. People might point to Apple and claim they’re a monopoly on the market, but other companies exist in the smartphone and entertainment market. Samsung and Google are major competitors with Apple, yet nobody looks at them as a monopoly on the market. However, under different circumstances, Google is also viewed as a monopoly on the tech and “search engine” industry. Neither Google nor Apple are a monopoly though. They’re only in the position they are in because they provide some sort of value that we consumers see as useful. If one day we deemed their services useless then suddenly they’ll become as lost as the name of Nokia. Monopolies only exist if laws are put into place to stop competition in certain markets. A monopoly does not exist if we let companies grow strong and large enough to put a chokehold on a certain division of the market. That isn’t truly a monopoly, but most people would consider it to be. That’s where the value of Dr. Bylund’s speech comes in. He’s showing people that monopolies do not exist, what does exist is consumer preference. It’s up to us consuming from the market to decide what becomes the next big thing in the market. If we truly want to change our market, then we just simply need to change our decisions. If we legally can’t find a way to purchase from anyone else or sell our own new product on the market, that’s when we have a monopoly.
The Complications of our Market
The problems with our market revolve around what I believe two things, corruption/laws and consumer preferences. If there are corruption/ laws in play, then it’s nigh impossible to enter a certain field and compete with the companies in “control” of that market. Next is the problem with the consumers themselves, their preferences. Laws are easy to change, we can protest and advocate against them, and worse case scenario we have an outbreak of violence that results in some form of change. What is not easy to change is human nature and our own ideals and preferences. We want what we want, or what we see other people want. Greed is a driving force of capitalism, and it’s also a part of being human. It’s in our nature to want things that pique our interest. It especially helps if these items also make our lives easier and more convenient to live. To fix what we believe to be monopolies, like Apple, in the market we have to change our own thought processes. Consumers need to change their outlook and wants, and it’s not an easy thing to do, but if this can be done then consumption towards big companies will fall and we’ll finally have the downfall of titan companies that people are crying out for; nevertheless, it’s pointless to do this, as once we do another company will fill in the space the companies like Apple had in our lives. Only with innovation will we truly see the downfall of a so-called monopoly, and even then, we’ll just have the beginning of a new “monopoly”.
Conclusion
All in all, there’s no getting rid of monopolies. In a capitalist system, they’re here to stay. This isn’t a bad thing though, as without them we wouldn’t have the competition and innovation we have in the marketplace today. Monopolies are a good, healthy sign for our economy, and they’re only a problem when the government is involved and is forcing rules down our throats. If big companies got together and tried to force rules down their consumers’ throats, then the consumers will realize that there are other better options and will flock towards them instead. Monopolies do exist in our market, but they shouldn’t be something we fear. I wouldn’t go as far as to say we should always embrace them, but they are the reason our society has advanced the way it has, alongside war of course. At the end of the day, what the consumer values in the market is what’s going to determine what remains on the market, so you have all the power ove3r the big corporations, all you need to do is use it wisely.
