telephone monopoly brought lower prices, a greater quantity of services, and also a wave of innovation aimed

at attracting and pleasing customers.

BRING IT HOME

The Rest is History
In the opening case, we presented the East India Company and the Confederate States as a monopoly or near

monopoly provider of a good. Nearly every American schoolchild knows the result of the “unwelcome visit” the

“Mohawks” bestowed upon Boston Harbor’s tea-bearing ships—the Boston Tea Party. Regarding the cotton industry,

we also know Great Britain remained neutral during the Civil War, taking neither side during the conflict.

Did the monopoly nature of these business have unintended and historical consequences? Might the American

Revolution have been deterred, if the East India Company had sailed the tea-bearing ships back to England? Might

the southern states have made different decisions had they not been so confident “King Cotton” would force
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