monopoly
monopoly
Pronunciation
/məˈnɒpəli/ (UK)
/məˈnɑːpəli/ (US)
Here's a breakdown of the sounds by syllable:
mə: This is a schwa sound, like the 'a' in 'about'.
nɒp (UK) or nɑːp (US):
n: This is the 'n' sound as in 'no'.
ɒ (UK) or ɑː (US): This is the vowel sound. In the UK, it's similar to the 'o' in 'hot'. In the US, it's more like the 'a' in 'father'.
p: This is the 'p' sound as in 'pen'.
ə: This is another schwa sound.
li:
l: This is the 'l' sound as in 'like'.
i: This is the 'ee' sound as in 'see'.
Word Form Variations
"Monopoly" has a few word form variations, though it's not as complex as many English words. Here's a breakdown:
Monopoly: This is the most common form, used as a noun to refer to the board game, or the concept of exclusive control of a commodity or service. It functions as both singular and plural when referring to the game itself (e.g., "I have a Monopoly." or "I have three Monopoly.").
Monopolies: This is the plural form when referring to the concept of exclusive control in a general sense (e.g., "The government is trying to prevent monopolies.").
Monopolist: This is the noun form for a person or company that has a monopoly (e.g., "The monopolist controlled the entire market.").
Monopolize: This is the verb form, meaning to acquire or complete a monopoly (e.g., "The company attempted to monopolize the widget industry.").
Monopolized/Monopolizing: These are the past participle and present participle forms of the verb, respectively.
Monopolization: This is the noun form of the act of monopolizing (e.g., "The monopolization of the market led to higher prices.").
Definitions, Synonyms and Antonyms
Noun
Definition: The exclusive possession or control of the supply of or trade in a commodity or service.
Example: "The company's monopoly on the production of that drug allowed them to charge exorbitant prices."
Synonyms: Domination, control, corner, stranglehold, oligopoly (when held by a small number of entities)
Antonyms: Competition, free market, open market
Verb
Definition: To acquire or hold exclusive possession or control of the supply of or trade in (a commodity or service).
Example: "The tech giant was accused of monopolizing the online advertising market."
Synonyms: Dominate, control, corner, take over
Antonyms: Share, compete, liberalize
Adjective (While "monopoly" isn't typically used as an adjective, we can use "monopolistic" )
Definition: Relating to or constituting a monopoly.
Example: "The government implemented regulations to prevent monopolistic practices in the industry."
Synonyms: Exclusive, controlling, dominant
Antonyms: Competitive, shared, open
Adverb (There's no standard adverb form of "monopoly")
While there isn't a direct adverbial form, you could construct phrases to convey a similar meaning, such as "monopolistically" or "in a monopoly-like manner." However, these are not common usages.
It's important to note that "monopoly" can also refer to the popular board game. In that context, it's a proper noun and doesn't have the same variations or synonyms/antonyms.
Examples of Use
Books:
Academic Texts: In economics textbooks, "monopoly" is frequently used to explain market structures and their implications. For example, "Principles of Economics" by N. Gregory Mankiw dedicates a chapter to monopolies, discussing their characteristics and effects on consumer welfare.
Non-Fiction: Biographies of business leaders often explore the concept. "Titan: The Life of John D. Rockefeller, Sr." by Ron Chernow details how Standard Oil achieved a near-monopoly in the late 19th century.
Fiction: Even novels can use the term metaphorically. In George Orwell's "Nineteen Eighty-Four," the Party's control over information and thought represents a kind of monopoly on truth.
Newspapers:
Business Sections: Articles discussing antitrust lawsuits or regulatory actions often mention monopolies. The New York Times might report on "the government's efforts to break up Big Tech monopolies" (nytimes.com).
Political Commentary: Opinion pieces might use "monopoly" to criticize the concentration of power. A columnist in The Washington Post could argue that "cable companies enjoy a virtual monopoly in many areas, leading to high prices and poor service" (washingtonpost.com).
Online Publications:
Tech Blogs: Websites like TechCrunch often discuss "monopoly" in the context of digital markets. An article might examine "Google's alleged monopoly in search advertising" (techcrunch.com).
Academic Journals: Online journals like the Journal of Antitrust Enforcement publish research on monopolistic behavior and its consequences.
Entertainment:
Movies: Documentaries like "Inside Job" explore the role of monopolies in the 2008 financial crisis.
Television: News programs like "60 Minutes" might feature segments on companies accused of monopolistic practices.
Video Games: The classic board game "Monopoly" itself is a cultural touchstone, often referenced in popular culture.
General Public Discourse:
Political Debates: Politicians might accuse their opponents of supporting policies that create monopolies.
Everyday Conversations: People might use "monopoly" casually to describe any situation where someone has exclusive control, even if it's not a strict economic monopoly (e.g., "My brother has a monopoly on the TV remote.").
10 Famous Quotes Using Monopoly
"Monopoly is the condition of every successful business." – Peter Thiel
"Competition is for losers. If you want to create and capture lasting value, build a monopoly." – Peter Thiel
"When a company dominates a market, it must be monitored to prevent the abuse of monopoly power." – Elizabeth Warren
"The monopoly of power is always accompanied by some form of corruption." – Tacitus
"A monopoly on the means of communication may define a ruling elite more precisely than the celebrated Marxian formula of monopoly in the means of production." – Robert Anton Wilson
"If you want a monopoly, make sure your competitors don’t realize it until it’s too late." – Anonymous
"Monopoly is the enemy of progress. Without competition, innovation withers." – Milton Friedman
"Wherever there is a great monopoly, you can be sure someone is being exploited." – Adam Smith
"No government should have a monopoly on force, speech, or knowledge." – George Orwell
"The great corporations have built their power on monopoly, and monopolies are incompatible with democracy." – Franklin D. Roosevelt
Etymology
Imagine you're way back in ancient Greece, where they loved to combine words to make new ones. They took "monos" (meaning "single" or "alone") and "polein" (meaning "to sell"). They smooshed these together to get "monopōlion," which meant having the exclusive right to sell something.
This word traveled through time, changing a bit along the way:
Latin: It became "monopolium."
Old French: It morphed into "monopole."
Finally, English: Around the 1530s, it arrived as "monopoly," keeping its original meaning of one seller controlling a market.
Think of it like this: If you were the only person in your town selling delicious cookies, you'd have a monopoly on the cookie market! Everyone would have to buy from you, because there's no other option.
At first, "monopoly" was mostly used for official privileges granted by kings or governments. Over time, it expanded to describe any situation where one person or company had total control over something, even if it wasn't official.
So, "monopoly" is a word with a long history, traveling from ancient Greece to modern English, and still used today to describe situations where someone has exclusive control over a market or a resource.
Phrases + Idioms Containing Monopoly
You're right, "monopoly" isn't as common in everyday idioms as some words. This might be because:
It's a bit formal: "Monopoly" often appears in economic or legal contexts, making it less likely to appear in casual sayings.
It has a strong meaning: The concept of exclusive control is quite specific, limiting its metaphorical use in idioms.
However, here are some phrases and idioms that do exist, along with some I've created and some using synonyms:
Existing Phrases:
"Have a monopoly on [something]": To be the only one who has or controls something. (e.g., "She has a monopoly on good ideas in that department.")
"Break up a monopoly": To dismantle a situation where one entity has exclusive control. (e.g., "The government is trying to break up monopolies in the tech industry.")
"Natural monopoly": A situation where it's most efficient for one entity to provide a service (e.g., utilities).
Lesser-Known Phrases:
"Monopoly of violence": (From sociology) The state's exclusive right to use force.
"Monopoly money": Something with little real value. (e.g., "Those stock options are like monopoly money.")
Original Phrases:
"Caught in a monopoly trap": To be stuck with a single provider and high prices.
"Monopoly mindset": An attitude of seeking to dominate and exclude competition.
Idioms with Synonyms:
"Corner the market": To gain control of the entire supply of something.
"Rule the roost": To be in complete control of a situation.
"Have a stranglehold on [something]": To have a tight grip and control over something.
"Call the shots": To be in charge and make all the decisions.
Vocabulary-Based Stories from SEA
Source Information
Definition of monopoly from The Academic Glossary at Self Exploration Academy, a Urikville Press Publication. © All rights reserved.
