| 单词 | natural monopoly |
| 释义 | natural monopoly A concept developed by political economist John Stuart Mill (1806–1873) and referring to utility services that are so capital-intensive and right-of-way intensive that it just doesn’t make sense to have more than one provider. Natural monopolies include transportation infrastructure such as roads, bridges, ferries, subways, and railroads, as well as utility infrastructure such as water, natural gas, electricity, sewer, cable television, and wireline telephone. In the United States, the Graham-Willis Act (1921) established telephone companies as natural monopolies. Cable television (CATV) and wireline telephone infrastructure used to be considered natural monopolies, but it’s not quite that simple any longer. See CATV, monopoly, right of way, Telecommunications Act of 1996, utility, and wireline. |
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