[BurningFrog]

The danger of a monopoly is supposed to be that it can crush all competition, and stay a monopoly forever.

If monopolies can routinely be outcompeted, then what is there to be concerned about with them?

[jakelazaroff]

The danger of a monopoly lies in its ability to exploit a market, not in its longevity.

Markets can change in ways that destroy monopolies. For example, if in 1900 you had a monopoly on horse-drawn carriages, that wouldn't have prevented you from being put out of business by the advent of the automobile.

[BurningFrog]

You know that's a good point. Thanks!

I think the distinction is between a monopoly disappearing because the market it owns disappears, or because it gets outcompeted in it.