monopolism
Definition
Noun (uncountable): 1. The economic system or practice of monopolies: "monopolism" refers to the theory, practice, or dominance of monopolies in an economy, often associated with capitalism where a single entity controls a market, limiting competition.
Usage Examples
- (The dominance of monopolies as an economic system.)
- (The practice of monopolies controlling markets.)
Advanced Usage
- "Monopolism as a political ideology": Sometimes used to describe a system where monopolies are not only tolerated but encouraged by state policy.
- The country's economic policies were accused of promoting monopolism over free-market competition. (State endorsement of monopoly dominance.)
Variants and Related Words
- Monopoly (n): the exclusive control of a commodity or service in a particular market.
- The company held a monopoly on the local water supply. (Exclusive control.)
- Monopolist (n): a person or company that has a monopoly.
- The monopolist raised prices without fear of competition. (Entity with monopoly power.)
- Monopolistic (adj): relating to or characteristic of a monopoly.
- Monopolistic practices harm consumer choice. (Behaviours typical of monopolies.)
- Monopolize (v): to gain exclusive control of something.
- She tried to monopolize the conversation. (Dominate or control exclusively.)
Synonyms
- Monopoly capitalism: a system where monopolies dominate the economy.
- Market domination: the condition of being controlled by one player.
- Trust capitalism: historical term for monopolistic control in the US.
Related Idioms
- "To corner the market": to gain control of a particular market or product.
- The tech giant tried to corner the market on artificial intelligence. (Achieve monopoly-like control.)
Phrasal Verbs
(No common phrasal verbs directly associated with "monopolism"; however, "monopolize" can be used in phrasal contexts:) - Monopolize over: to dominate or control excessively. - The CEO monopolized over the board's decisions. (Exercised excessive control.)