Monopoly Capitalism

Monopoly capitalism refers to a stage of capitalism where a few large companies dominate the market, significantly reducing competition. In this system, these firms often wield considerable power over prices, wages, and production, leading to higher profits but potentially harming consumers and smaller businesses. It can result in wealth concentration and reduced innovation, as the dominant firms have less incentive to improve. The concept highlights how economic power can influence political systems and social structures, raising concerns about fairness and equity in society. Overall, monopoly capitalism significantly shapes modern economies and their dynamics.