A great example of why monopolies are bad can be seen in the practices of the two companies Ticketmaster and Live Nation. The merger of the two has resulted in them wielding enormous power when it comes to live concerts. As a result, consumers get both price-gouged and lousy service.
Back in 2009, New Jersey congressperson Bill Pascrell, Jr., among others, warned that allowing the merger would be bad but the Obama administration waved it through. In 2018, Pascrell wrote an article saying that all their dire predictions had come true.
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