Utility companies are often considered 'natural' monopolies

Monopolies are considered the most extreme form of imperfect competition

True monopolistic companies face no competition, meaning there aren't any near substitutes for the goods or services the company provides. Often, no competition exists because the monopoly is either approved by the government or the barrier to entry is costly.

A 'bilateral monopoly' occurs when there's one supplier and one buyer in a market

Bilateral monopolies are often used to conceptualize labor markets in small towns. Using this concept, large employers have a monopoly over the labor market, while workers have a monopsony as the only available laborers.

Network effects are the economic term for a good or service's popularity

When goods or services become especially popular, firms that provide that good or service become dominant in the market—which can ultimately lead to a monopoly.

Market concentration and high markups don't always signal a monopoly

When regulators and economists evaluate whether a company constitutes an illegal monopoly, they often consider its overall market share or its relatively high price markups. This piece argues that the Olley-Pakes decomposition is a better measure, identifying whether customers within a market are switching to more productive companies.

An oligopoly is a market structure where a few large businesses dominate the entire market

When a few large companies dominate a market, changes in pricing for goods and services affect the entire market. Airlines are a common example of an oligopoly. Because the barrier to entry in the aviation industry is high, only a few airline companies offer the majority of the industry's services. While there is some competition, pricing across the board is largely intertwined and based on other companies' prices.

Understanding how non-profit entities manage electric grids to ensure supply-demand balance

Independent System Operators in smaller areas and Regional Transmission Organizations that operate across multiple states run wholesale electricity markets. Electricity suppliers can submit competitive bids to meet estimated demand in day-ahead markets while keeping consumer costs low. ISOs and RCOs also inform markets of deviations in these estimates so that suppliers can adjust how much power they generate, which is then bought and sold in real time.

Explore a list of well-known monopolies

Many American monopolies popped up during the rapid industrial growth of the Gilded Age. Industries like steel, tobacco, railroads, and telecommunication have all been monopolized at some point in history.

Examining the causes of power outages, from system damage to preventative measures

Stray balloons, contact with trees, malfunctioning equipment, and severe weather are among the causes of failures that can cause widespread, unplanned blackouts. Although contingency options that rely on alternative transmission pathways to deliver electricity from generators to consumers may be possible, some shutoffs, brownouts—available power is reduced—and cycles of repeated outages may be intentionally implemented to protect public safety.

Some renewable energy sources may weaken the resiliency of electric grids by removing outage buffers provided by coal- and natural gas-fired plants, which provide the system with more time to find a new power source if a plant goes down.

Standard Oil's predatory business practices included temporarily operating at a loss to drive competitors out of business

Rockefeller's oil monopoly had a dark side, including cutting oil prices so low that Standard Oil was sometimes temporarily operating at a loss in order to drive competitors out of business.

Among renewable sources, geothermal rivals hydropower in lifetime cost

As of 2024, the levelized cost of energy—the average cost per unit of energy over the lifetime of a power plant—for geothermal power is surpassed only by solar photovoltaic and onshore wind. Geothermal's LCOE has remained relatively unchanged since 2007, with significant decreases held back by significant upfront installation costs.

Patents arguably grant inventors monopolies for a short period of time

As a way to reward innovation, the government grants short-term monopolies on patented products. Patents block other companies from producing or selling that product, giving inventors the rights and opportunity to establish themselves in a market before other competitors enter.

Nuclear power supplies almost half of US carbon-free energy

As of 2023, nearly 20% of US electricity comes from nuclear power, but most reactors were built from 1971 to 1990. Expansion slowed due to safety concerns, high costs, and competition from natural gas.

Private equity firms can be 'powerful partners' or 'formidable competitors'

Under the best circumstances, PE firms can increase a company's value using strategies that might not be suitable for public companies facing pressure for immediate shareholder returns. But PE firms are often portrayed negatively due to the aggressive strategies they sometimes use to cut inefficiencies. As PE has grown, many firms have changed their strategies, shifting away from aggressive scaling to more integrated acquisitions.

The engineering underlying the electric grid and why it needs to be modernized

The system includes generators for producing electricity and millions of miles of transmission and distribution lines to transport the energy. The substantial increase in the number of electronic devices and electrical demand since the construction of much of the grid in the mid-1900s has strained infrastructure, requiring continuous upgrades and massive investments in new construction.

Oil and natural gas from fracking is considered unconventional

This method forcibly extracts fossil fuels from tightly packed rocks, where they form from organic matter that has undergone extreme heat and pressure. Conventional drilling, on the other hand, waits for the oil and gas to escape from shale and accumulate in more porous and permeable rocks, such as limestone.

Nvidia controls more than four-fifths of the GPU market—but isn't considered a monopoly

Semiconductor company Nvidia has a commanding market share when it comes to graphics processing units. Its competitors include Advanced Micro Devices and Intel, which together account for less than a fifth of the GPU market.

Data center companies are worsening housing undersupply in some regional markets

With large capital to spend, technology giants have disrupted the real estate market, driving up prices by outbidding commercial and residential developers and intensifying competition for available land. A property purchased over several years for $50M in Prince William County, Virginia, was sold to Amazon for $700M in 2025.

Local governments are responsible for more than 148,000 public water systems across the US

From large municipal utilities to small rural systems, local governments are tasked with providing clean water to almost every American community. The US operates over 148,000 public water systems.

Tesla's lack of business savvy and inability to commercialize led to his obscurity

For decades, despite pioneering technologies for large-scale electrical systems and telecommunications, Nikola Tesla had been forgotten to history. Rather than monetizing his work and becoming more well known, his inventor-first mentality saw him sell off lucrative patents to fund new experiments in the short term.

Some private credit funds trade on the stock market

These funds, which trade at market prices, are called "public BDCs," which stands for "business development companies." For instance, the global alternative investment manager Ares Management Corp. has a public BDC.

Credit unions, explained

Proponents of credit unions often point to the fact they’re not-for-profit cooperatives instead of for-profit businesses as a key selling point. This explainer dives into what this looks like in action—instead of pocketing the profits from interest rates, credit unions reinvest that money into the products and services they offer. For customers, this tends to create a more personal and community-oriented experience.

Explore a series of articles on the costs of critical mineral extraction

The acquisition of critical minerals—essential materials for clean energy technologies—has often been accompanied by harm to water supplies, natural ecosystems, and Indigenous lands, raising questions about the overall benefit of these technologies.

Large oil companies knew about the impact of carbon emissions since the ’70s

PBS Frontline’s The Power of Big Oil reveals how industry giants like Exxon and Shell were researching climate change in the 1970s but then funded denial campaigns—using internal science to sow public doubt for decades.

The seven major US freight rail companies

The US railroad industry is dominated by seven long-running freight conglomerates. Get the basics on each of these companies with this brief overview.

Jet fuel is expensive—which is one reason why it's tough to make an airline profitable

Jet fuel is typically a commercial airline's second-largest expense, second only to labor. Oil prices can be volatile—there have been recent significant increases in jet fuel prices given the 2026 Iran conflict, for instance.

Pure water does not conduct electricity because this flow of energy requires the movement of charged particles, and water is a neutral molecule.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

Power lines are dotted with large, brightly colored balls to improve the visibility of these thin wires to helicopters and small planes and help prevent potential crashes.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

Hurricanes, which rely on air consistently spinning in the same direction, cannot cross the equator because air curves in opposite directions north and south of it.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

Some Pokémon have been named after real and fictional organisms, while some real-world species have been named after Pokémon, such as Chilicola charizard and Binburrum zapdos.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

Neutron stars, the remains of some massive stars after they explode in a supernova, are the densest directly observable objects in the universe.

Learn how monoclonal antibodies, which mimic the body's antibodies, can fight diseases like Ebola.

Volcanoes 'die' when their supply of magma runs out, if they are shifted away from their underlying magma reservoir, or if they get clogged by collapsing or their magma cooling back into rock.

The history of many kitchen appliances involves unexpected discoveries and applications, including wartime radar turned hamster defroster and replacing an 'ice king' with heat-stealing boxes.

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.

Sony set the standard for cylinder-shaped batteries when it repurposed manufacturing equipment used to make rolls of magnetic recording tape.

The 19th-century painters of the Hudson River School were among the first American romantics, with portraits that displayed the natural beauty of the young country.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Some researchers have labeled nomophobia, the fear of being without your phone, as 'the phobia of the 21st century.'

When you complete a CAPTCHA on a website to prove you are human, you may be unknowingly training algorithms for self-driving cars, whose systems require training data to help identify crosswalks, bicycles, and other outdoor objects.