#77 Global Economic Struggle over 50 Years: Monopoly and Oligopoly

In principle, capitalism has supposedly been a myriad of small companies in every field competing against each other. However, in practice, this has rarely been the case. Once the allocating principle of resources and the ‘free market' became established from the early 19th century, capital has always been drawn upwards in a vortex of profit. Small companies became established as legal entities with limited liability through shares from the 1830s. Shareholding of course goes back to monopoly trading companies in the early 1600s, established by parliament. After the 1830s, shares of profitable small companies were bought out by larger companies until only a few companies are left in the marketplace.