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Oligopolists
An oligopoly (from Greek ὀλίγος, ''oligos'' "few" and πωλεῖν, ''polein'' "to sell") is a market structure in which a market or industry is dominated by a small number of large sellers or producers. Oligopolies often result from the desire to maximize profits, which can lead to collusion between companies. This reduces competition, increases prices for consumers, and lowers wages for employees. Many industries have been cited as oligopolistic, including civil aviation, electricity providers, the telecommunications sector, Rail freight markets, food processing, funeral services, sugar refining, beer making, pulp and paper making, and automobile manufacturing. Most countries have laws outlawing anti-competitive behavior. EU competition law prohibits anti-competitive practices such as price-fixing and manipulating market supply and trade among competitors. In the US, the United States Department of Justice Antitrust Division and the Federal Trade Commission are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oligarchy
Oligarchy (; ) is a conceptual form of power structure in which power rests with a small number of people. These people may or may not be distinguished by one or several characteristics, such as nobility, fame, wealth, education, or corporate, religious, political, or military control. Throughout history, power structures considered to be oligarchies have often been viewed as tyrannical, relying on public obedience or oppression to exist. Aristotle pioneered the use of the term as meaning rule by the rich, for which another term commonly used today is plutocracy. In the early 20th century Robert Michels developed the theory that democracies, like all large organizations, tend to turn into oligarchies. In his "Iron law of oligarchy" he suggests that the necessary division of labor in large organizations leads to the establishment of a ruling class mostly concerned with protecting their own power. Minority rule The exclusive consolidation of power by a dominant religious or et ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
