[jsaldes]

The synthesis of the indigo color wiped out an entire monopoly. Before the German chemist Adolf von Baeyer the market relied heavily upon the import of natural indigo from India whom basically got wiped off the market in one season. In yet another David vs. Goliath display of how the balancing of the market works in action a monopoly fell. Simultaneously a new market got born; namely the blue (indigo) jeans market. If you ever doubt that the market can handle the advent of monopolies - look no further than the pants you’re wearing!

[scotty79]

Very long lasting monopolies are rare but price fixing between few largest players is a common occurence.

[DrJones1098]

We used to say that monopolies were wrong and bad for capitalism.

Now we're saying that monopolies are ok?

[jsaldes]

Well, Adam Smith certainly thought they were bad and he is probably most correct about that as well. But they aren't the end of the free market as some people want to have you believe!

[jsaldes]

Not to mention that it's free markets that provides the incentive that is needed to come up with ideas and innovation that can break monopolies!