Breaking Up Monopolies
When monopolies are not ended by the open market, sometimes a government will either regulate the monopoly, convert it into a publicly owned monopoly environment, or forcibly fragment it (see Antitrust law and trust busting). Public utilities, often being naturally efficient with only one operator and therefore less susceptible to efficient breakup, are often strongly regulated or publicly owned. American Telephone & Telegraph (AT&T) and Standard Oil are debatable examples of the breakup of a private monopoly by government: When AT&T, a monopoly previously protected by force of law, was broken up into various components in 1984, MCI, Sprint, and other companies were able to compete effectively in the long distance phone market.
Read more about this topic: Monopoly
Famous quotes containing the words breaking up and/or breaking:
“Every incident connected with the breaking up of the rivers and ponds and the settling of the weather is particularly interesting to us who live in a climate of so great extremes. When the warmer days come, they who dwell near the river hear the ice crack at night with a startling whoop as loud as artillery, as if its icy fetters were rent from end to end, and within a few days see it rapidly going out. So the alligator comes out of the mud with quakings of the earth.”
—Henry David Thoreau (1817–1862)
“One sought not absolute truth. One sought only a spool on which to wind the thread of history without breaking it.”
—Henry Brooks Adams (1838–1918)