Monopoly, a board game that everyone knows to play. A player who buys most of the lands, properties, and public utilities would win the game. Unfortunately, everybody in Hong Kong is inevitable to participate in this game since they were born. People who do not have enough capital are regarded as losers such as young adults, working class and the grassroots. Since most of the businesses are monopolised, the upward social mobility is relatively low. The “losers” bear unreasonable living costs and suffer from them for the whole life. They lose their dreams and meanings of life. On the other hand, the “winners” can do whatever they want just because their incomes occupy more than half of the societal resources. Furthermore, the number of losers …show more content…
A person or a company can whether enter the market or not depends on their capital. The tycoons in certain markets would try to increase the cost of entry in order to exclude the potential opponents and enjoy the largest market share. For instance, PCCW, a company controlled by Richard Li, the son of the tycoon Li Ka-shing started a sales war in 2003 that used aggressive price cut strategy (Vines, 2013). By this strategy, Richard tried to get rid of his opponent, HKBN; however, he did not succeed. Although Richard failed to kick out his opponent, the potential competitor might give up telecommunications market because of the excessive initial cost of starting a business. If Richard monopolised that market, he would be the one and the only one supplier of telecommunication. According to John Rawls’s two principles of justice, Richard’s act violates Rawls’s Second Principle: social and economic inequalities are to be attached to offices and positions open to all under conditions of fair equality of opportunity. (Wenar, 2017) Due to aggressive price cut strategy, Richard deprived other people’s opportunity to start a public enterprise in telecommunication sector. Therefore, the economic inequalities (monopolised markets) are formed by tycoons in different industries leading to an ineffective and unjust resources distribution in Hong Kong, that is, the greatest benefit of the most-advantaged members of …show more content…
When the government records a financial surplus, it will do a wealth redistribution through welfare system to help the needy. Theoretically, the poor will get help from this welfare system and their living conditions should be fine. Unfortunately, Hong Kong is practicing fixed tax rate, so the taxable income or profit is just a mosquito bite to the tycoons who are controlling monopolised markets. The amount of tax is far from sufficient to solve the needs of the poor. Although private monopoly generates wealth and tycoons, its inequality is not good for all and especially for the worst-off (Rawls’ Second
In this study two sets of random strangers were playing game of monopoly. Monopoly is a game where every player has same opportunity and to win you need luck and skills. One participant (rich player) had better chance of winning the game. They were given more money, able to roll two dice and have more mobility throughout the game board. Whereas, the other participant (poor player), had less money, only could roll one dice and did not have same about of mobility compare to other player. From Piff’s study it shows, even when the game was openly rid the rich player felt sense of entitlement, they eat more pretzels, they felt they deserve to win as well, did not show any empathy to the poor players whom have little chance of winning. This just show, lack opportunity can be setback for many Americans who lack wealth and social mobility. Whereas, those lucky few who has opportunity to do better for themselves. Plus, it show who rich can become greedy and lack understanding not everyone had the same start in life they
Many companies and individuals have committed monopolies before they were considered illegal and afterwards. A monopoly is when one person has complete control over a company and makes close to 100% of the profits. Since The Sherman Antitrust Act passed on April 8, 1890, “combination in the form of trust and otherwise, conspiracy in restraint of trade;” monopolizing an industry became outlawed. In simple terms the act prohibited any forms of monopoly in business and marketing fields. Monopolies committed before the Act, at the time, legal, but unethical, some famously known marketers like John D. Rockefeller became extremely wealthy. While others took full control of corporations after The Sherman Antitrust Act caused a firm like Microsoft
We all hear the term “monopoly” before. If somebody doesn't apprehend a monopoly is outlined as “The exclusive possession or management of the provision or change a artifact or service.” but a natural monopoly could be a little totally different in which means from its counterpart. during this paper we'll be wanting into the question: whether or not the govt. ought to read telephones, cable, or broadcasting as natural monopolies or not; and may they be regulated or not?
2. Provide an example of a government-created monopoly. Is it a bad public policy? Why?
Henry Ford was an American industrialist and the founder of the Ford Motor Company, who stated, “business is never so healthy as when, like a chicken, it must do a certain amount of scratching around for what it gets” (Ford). In the corporate world, individual businesses control other corporations in order to improve their own systems and products. On the macroscopic scale, it is comprised of the corporate world; however, examples of monopoly from the corporate world can be translated onto the microscopic scale. The microscopic scale is primarily the community of families in this society. Families and corporations share this similar idea. Parents dictate their children’s development, and within a relationship one gender may show more power and influence on the other. For the most part, the selfish characteristic of society is the manifestation of monopolism and it raises moral and ethical issues because these acts are inconsiderate of the loved ones around them.
Real life isn't fair like that and Sociological Monopoly shows that. Those who start off the game poor only get poorer. Those who are rich get richer and have an easier time. In this alternate version you can take out loans but you have to pay them back with interest. Those who are poor take out loans thinking they will get ahead but they only get in debt.
Monopoly is nearly always seen as something undesirable. Courts have wrestled with monopoly for ages, sometimes defining it as: "the power to control prices and exclude competition", "restraining trade", or "unfair and anti-competitive behavior." Should monopolistic practices be condemned and outlawed? Let's look at anti-competitive behavior and practices, but let's not confine ourselves to what's traditionally seen as monopoly.
The goal at the end of WWII was prevent further disputes that splashed over a global playing field. Thought to be a goal within reach, it just wasn’t possible. Not even five years later had the Cold War commenced. A war “marked by ideological hostilities and a daunting arms race, [the Cold War] was chiefly between the United States and the Soviet Union and their respective allies” (Goff 282). This global war induced many effects in Europe and East Asia, from division of lands, struggling economies to a massive power struggle for influence. The Cold war was a wrinkle in time that created similarities despite having dissimilar experiences relating to land divisions, economic strife and power struggles.
According to Neill (1992), “It’s time to stop sacrificing the economic wellbeing of the vast majority of Americans and our children’s future in order to underwrite the conspicuous consumption of the very rich” (p. 114). Monopolies are the only ones that can produce certain merchandises in a specific market. With no alternative product to buy, monopolies often brand their products as luxurious items and in return driving prices up. The insights of the monopoly model suggest some of the problems that arise from monopoly power are restricting output, artificially higher prices, lower quality, and persistent profits.
What is the goal of the popular board game of Monopoly? The answer is quite simple as it is to remain financially stable, while forcing opponents into a state of bankruptcy by buying and building pieces of property. By definition a monopoly is the exclusive possession or control of the supply or trade in commodity or service. For instance when it comes to a business, as a monopoly, it will own all of the legs on a table which keeps it up. In history such monopolies existed as Andrew Carnegie’s steel business. It thrived as Carnegie controlled every aspect of the steel industry. For example, Carnegie as a smart business man that he was bought out the “middlemen” in the process of making steel. Which means transportation, finding of, and making of those raw materials into steel were all under Carnegie’s name. Within the last couple of decades a new animal of a monopoly has emerged and hunts
"Microsoft Corporation, is a multinational computer technology corporation with global annual revenue of US$44.28 billion and 71,553 employees in 102 countries as of July 2006. It develops, manufactures, licenses, and supports a wide range of software products for computing devices. Headquartered in Redmond, Washington, USA, its best selling products are the Microsoft Windows operating system and the Microsoft Office suite of productivity software, each of which has achieved near-ubiquity in the desktop computer market. Microsoft possesses footholds in other markets, with assets such as the MSNBC cable television network, the MSN Internet portal, and the Microsoft Encarta multimedia encyclopedia. The company also markets both computer hardware products such as the Microsoft mouse as well as home entertainment products such as the Xbox, Xbox 360 and MSN TV" ("Microsoft").
The richest people who seem to keep getting richer have been walking into their wealth since the day they have been born. It has been proven by how the companies have been popping up around the world, how the companies are being bribed by governors trying to make their state seem more economically powerful. “Philips, Sony, and Toyota factories are popping up all over—to the self congratulatory applause of the nation’s governors and mayors, who have lured them with promises of tax abatements and new sewers, among other amenities.” (Paragraph 17) People are born into their jobs, and are doomed for their economic boats. IN other countries such as China, it has been proven that the families with the moneys are the ones with the money, are the ones with the economic power. “Many wealthy Chinese and western residents moved their money abroad and some actually left the colony. By 1971, the Cultural Revolution in China had ended in failure and conditions in Hong Kong calmed,” (Lannom) such as Gloria Lannom states, yet it took a while for Hong Kong to rebuild its economic standings because of this
The article is mainly about how monopolies are the main driver in income equality because they keep the majority of the profits in the hands of the few (Lynn, 2017). There are numerous examples of how monopolies are effecting everyday Americans: the farmers struggle against agricultural conglomerates, sky high prices set by the pharmaceutical companies, cable providers, health insurers, and the airlines (Lynn, 2017). Additionally, the article highlights how
There are three main features that distinguish between a perfect competition and monopoly market structure: the type of firm, the freedom of entry and the nature of the product (Sloman and Norris 1999, pg, 161). A table of these features is contained in Appendix A. These two market structures are on opposite ends of the scale and consequently, the features and benefits of each structure vary quite dramatically.
According to the united stat patent office: the idea of Monopoly game has been originated by Elizabeth J. Magie back in 1903 when she registered similar board game which was called the landlord's game (Orbanes, 2006). After that, different kinds of board games has been created.