Title: Government-granted monopoly - Wikipedia
Headings: Government-granted monopoly
Government-granted monopoly
Contents
History
Patent
Copyright
Trademark
Directly mandated
Background of the role of government
Natural monopolies
Alternative interpretation
Criticism
Examples
See also
Notes
References
External links

Content: The real problem is the social costs. These are not only the amount of deadweight loss and the cost of lobbying companies, but also the efforts that consumers make to prevent this. Indirect costs that are caused by rent seeking in other markets should also be taken into account. For example, if there is a need for more economists because of lobbying activities, the cost of not having many other professions or the cost of competing in offices for bribes. Interestingly, however, bribes alone are not a social cost, just a transfer from certain groups (renters) to other groups (clerks). In the case of natural monopolies in private hands, regulation can be introduced to break monopolies. The government can regulate prices in certain sectors where natural monopolies develop. This can be done directly by setting the price (for example, the price of rail or gas) or by regulating the return (for example, in the case of telephone services). Whatever method is used, the goal is to lower prices to cost levels. By reducing the price, the rent seeking and the deadweight loss are also reduced or eliminated.