Monopoly or oligopoly exists when a very small number of huge enterprises dominate a marketplace. The chartered companies established in Europe in the late 16th century and continuing through to the end of the 19th were privatised monopoly companies, which allowed shareholding from outside wealthy individuals. The old feudal system had also created monopolies through land use, in feudal land tenure systems. Colonies created monopolies for the invading country. A colonial power had monopoly importing and exporting rights.

The twin historical forces of colonialism and capitalism ‘destroyed’ much of the ancient social, economic, ideological and political systems of the world and transformed it. Today we call this ‘progress’. Progress did not happen all at once, of course. People, states, and governments resisted over long periods, but in the end, most peoples were overwhelmed…