Monopoly is a perfect business practice. It is not illegal in a capitalist economy. Regulating monopolists is the job of the government and not the businessmen. All of us has the monopoly tendency in us and we will only be aware of it when the opportunity arises.
Can somebody expalin the Okoya Thomases because Molade Okoya Thomas seems to be the rich one while Razaq grew rich from him. Whatever the case is, I lost my respect for Razaq the day he built a house in Nigeria and requested for only foreign tenants. He would have been fined heavily if he did such a thing in UK or US.
Okoya Thomases is NOT Rasaq Okoya.
Rasaq Okoya is the owner and founder of Eleganza products and beauty comestics. You're right Rasaq only requested for foreign tenants and thats because he only wanted to be paid in dollars and pounds and nothing more. He also didn't want a case where people wouldn't pay him down the line.
Anyways, that aside, going back to monopoly, IMO there is NOTHING legal about monopoly. If one fills a market void fine. Then you are SMART enough to establish a business that fill a market void for a particular period of time. Thats what makes a successful business owner. Thats fine to me. NOW if one KILLS other business owners and ideas so as only to gain power, then to me that is no capitalism that is Oligarchy.
Microsoft for example, filled a particular market for a LOONG time, I can't imagine them killing Apple, Inc. just so that Bill Gates can continue to remain king of the software/computer world. 1, there would be no workforce development because Apple Inc. can't hire anyone 2. It kills creativity and innovation, there would probably be no Ipods or nice MACs, with Steve Jobs knowing that all his ideas and invention will go to Gates.----- there is NOTHING legal about monopoly. In fact, Capitalism allows for workforce development and a GOOD business should survive competition. If there is NO competition, IMO its not capitalism.
Monopoly is NOT a "perfect business practice." I don't know if you studied Economics but it is NOT. Monopolies ARE and should be ILLEGAL in a "good capitalistic society" for the reasons aforementioned.
Policies should be implemented by the government to regulate monopolies because new businesses create jobs which is economic and workforce development. BUT in Nigeria, where people are bribed for supporting businessmen <whom I wouldn't consider successful, because a successful business man can survive in competition.>
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