It is not just that the consumer has no choice. Some will learn to do without the products, some will devise alternatives. The major impact of monopolies is that when they are broken, those who run them have absolutely no ability to deal with competition.
The ex-monopoly tries many ineffective methods to regain the customers, who leave in droves, preferring the competition, regardless of cost or quality. For people hate monopolies. Those who run them are not aware of the hatred.
Over the years, many monopolies have been smashed.
Under America’s current President, the reality has just been grasped that the world can live without American products.
It should have been evident from the first day Trump took office and went to close the car factories in Mexico. Within less than 24 hours, China took them over.
The Free Trade Agreement that Trump pulled America out of has re-emerged with 11 signatories to the that will eliminate trade barriers and streamline economic policies for countries across the Pacific Rim.
98 percent of tariffs of Canada, Chile, Mexico, New Zealand, Malaysia, Vietnam, Singapore, Brunei, Australia, Peru and Japan have been lifted.
Japanese cars, for example, will arrive in Canada without paying various tariffs. Chilean Beef can go to Vietnam without tariffs.
This deal will be of great benefit to these eleven nations, and of great detriment to the United States.