Are monopolies actually a good thing?

[LadyWrestler]

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AT&T's Bell monopoly ='d good, cheap standard phone service. Forced breakup ='s poor, expensive standard phone service...according to my parents, who are smart enough to understand and discount inflationary trends...and have no reason to lie to me about it.

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Long distance rates came WAY down during and after the breakup period. Long distance used to cost fifty cents a minute...and that was when money was worth more, not less. So the inflationary effect does not apply in this case in the direction you are thinking...rather, it means that back then, rates were even higher in real terms than they were in absolute terms. And as above, they were a lot higher way back when.

Your parents are right that some services were of less quality after the breakup, and that there were some kinks to be ironed out. But overall the effect was to bring rates way down.

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"...standard..."