Monopolies express competition rather than contradict it

Evidence

The replacement of the concept of real competition with that of perfect competition also compromises the understanding of the process of capital concentration. In fact, according to conventional theory, monopolies and oligopolies are terrible exceptions, a distortion of the market, to be fought against because they contradict the logic of harmonious competition leading to perfect equilibrium. On the contrary, a critical lens allows us to observe that, far from being “a break” with competition, monopolies are precisely its expression in action. As Shaikh reminds us, monopoly is not the antithesis of the market but the result of its dynamics. — Clara E. Mattei, Escape from Capitalism, 138

Categorization

• DEFINE: Reframes ‘monopoly’ from market failure to the logical endpoint of market dynamics — the load-bearing conceptual move of the whole chapter.
• XREF: connects to: Monopoly power is not a market flaw but a market-driven outcome — Clara E. Mattei, Escape from Capitalism, 281; Monopoly is the outcome, not the antithesis, of competition. — Clara E. Mattei, Escape from Capitalism: An Intervention, 138; Monopolies themselves depend on continuing inter-monopoly struggle. — Dirk Braunstein, Adorno’s Critique of Political Economy, 613 (+7 more)

Broader Connections

• Monopoly is the outcome, not the antithesis, of competition. #corroborates (0.95) — Clara E. Mattei, Escape from Capitalism, 138
• Monopoly power is not a market flaw but a market-driven outcome #corroborates (0.85) — Clara E. Mattei, Escape from Capitalism, 281
• Monopolies themselves depend on continuing inter-monopoly struggle. #expands (0.80) — Dirk Braunstein, Adorno’s Critique of Political Economy, 613