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UC Irvine Expert
Richard McKenzie points out a problem with the common wisdom that all monopolies are inherently detrimental.
About this expert
Richard McKenzie, professor of economics and public policy, is a recognized authority on monopoly and antitrust issues. McKenzie has authored more than 20 books, including a work called In Defense of Monopoly: How Market Power Fosters Creative Production, which challenges the notion that monopolies have no redeeming virtue. More: www.merage.uci.edu/~mckenzie/