DailyPost 147
CREATIVE MONOPOLY
Capitalism and the supposedly inbuilt competition have been touted as the economic panacea to the world; of fairness, transparency and equal opportunity. This also provided a handle to tackle the other prevalent economic & political thought of the world socialism. Capitalism triumphed and competition became its default mode.
Times have changed and more so the economic scenario, which is driven by the most innovative technological machine. Perfect competition is the ideal equilibrium and monopoly it’s antithesis. There are enormous differences between the two and most of the companies are closer to either end, than we realise and much more than what they accept.
Peter Thiel, one of the foremost thinkers of our times believes that competition is for the losers and only the comfort of monopoly profits will win the brute struggle for survival. This provides the elbow room for innovation and also ethics to have a fair play, as survival is not the primordial sentiment. Google has dominated the search engine for more than a decade now, it’s a monopoly given its market share and dominance . Microsoft and host of other companies have held sway of the world is this manner. Monopolies are a good thing for the societies, say Peter Thiele. These monopolies are radically different from what we have understood conventionally.
This is the bold new world of creative monopoly. What valuable company has not been created? Create the company, create value in it, capture it and rule the world is the mantra of the day. If you falter another creative monopoly will take over and you will join the ranks of cut throat competition, finding difficult even to survive.
INNOVATIVE ECONOMIC THINKING WOULD PROPEL BUSINESSES OF TOMORROW.
Sanjay Sahay