ABSTRACT
it is a belief widely acknowledged that economic monopoly is an evil which should be controlled, restricted or eliminated. But like so many axioms of political faith, the more closely it is examined the more complex it becomes. Our purpose here is to suggest that if the word monopoly were not exclusively used in a derogatory sense it would be easier to work out a policy for controlling the exercise of economic power. We must think out the issues again before assessing the merits of various methods of controlling or eliminating monopoly practices. It is precisely because in Britain today the cart has been put before the horse that progress since the passing of the Monopolies and Restrictive Practices Act has appeared exasperatingly slow.
