In Many Countries, the Government Chooses to "Internalize" the Monopoly

question 193

Essay

In many countries, the government chooses to "internalize" the monopoly by owning monopoly providers of goods and services. (In some cases these firms are "nationalized," and the government actually buys or confiscates firms that operate in monopoly markets). What would be the advantages and disadvantages of such an approach to ensure that the "best interest of society" is promoted in these markets? Explain your answer.

---

Definitions:

Total Destruction

The complete and utter devastation or annihilation of something, often used in the context of warfare or natural disasters.

General Sherman

William Tecumseh Sherman, a Union general during the American Civil War, known for his "March to the Sea," a campaign of total war strategy against the Confederate South.

March To The Sea

A strategic military campaign during the American Civil War where Union General William Tecumseh Sherman led forces from Atlanta to Savannah, Georgia, destroying military targets as well as civilian property to cripple the Confederate war effort.

Georgia

A state in the Southeastern region of the United States or alternatively, a country located at the intersection of Europe and Asia.