Public or Private Monopoly?
Almost all aspects of the current policy debate over grain handling, transport and marketing turn on the problem of monopoly. The essential problem is that, in the presence of extensive scale economies, the perfectly competitive market of the textbooks cannot be sustained. Policy makers are left with three broad alternatives, each of which seems more notable for its disadvantages than its advantages. The basic choices are public monopoly, regulation and unregulated private monopoly.
Volume (Year): 56 (1988)
Issue (Month): 03 (December)
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