Samples Economics Monopoly

Monopoly

576 words 2 page(s)

Within the scientific world, there are a number of topics that are overwhelming biased through cultural outlook and beliefs in terms of their real world applicability. This is unavoidable, as cultural beliefs heavily influence the perceptions and ability of an individual to understand the world around them, and as such, this creates a number of biases in their beliefs toward a subject. As in science, this often occurs in other fields such as economics, where all pieces are written from a strictly western perspective. This is due to the field targeting the function of an industrial society, which is mostly a unique offspring of western technological advancement. As a result, the understanding of these concepts is painted in a light that can only be identified and appreciated through a Western cultural light, as the narratives of other cultures are ignored or deemed irrelevant within the overall picture.

Monopolies refer to the concept of a control within a market, where the producer or seller of a product is able to dictate prices or other conditions due to their unique and irreplaceable place within the local market. This removes competition from the market, as there are no alternatives to the goods being offered, which forces buyers to interact with the individual in question (Monopoly, 211). As such, monopolies are seen as a danger within the capitalistic world, as they stifle competition and increase prices across the board due to monopoly power. Furthermore, the concept can also refer to items where monopolies are seen as favorable, as the multiplication of a single good can be overwhelmingly harmful in certain situations. For example, utility companies are given a monopoly on a local electricity market, as the maintenance of multiple production, transmission, and other structures is overwhelmingly expensive and does not bring any benefit to society at large.

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Monopolization is a concept that is only understandable through a Western context, as it takes various assumptions for granted. As such, the applicability of industrial economics to pre-industrial systems is nonsensical, as there are different economic and social assumptions and motivations involved within individual decisions. Applying such economics can be harmful to non-Western pre-industrial societies is harmful, as it may clash with the previously established social order within the area and lead to economic and social upheaval. Monopolies and their functions are also based on Western ideals and cultural norms, whereas other societies may take a more social method of managing control and power within their economic systems. Due to this, the understanding of modern economics should be geographically and culturally applied, rather than generally to an entire area.

Due to these various assumptions and cultural differences, the application of scientific fields to non-Western areas is haphazard at best, as the social structures within these areas function fundamentally different from Western territories. Such biases are normally seen within the social sciences, as the conclusions of studies conducted on Western adults and college-aged students are then extrapolated on entire populations that share no cultural lineage with the West. This was tested in recent experiments, where the normal conclusions of such studies were wholly disproven within non-Western areas where social assumptions are vastly different. As such, it is critical to understand these differences, as they can lead to greater cultural discourse and understanding between vastly different societies. Typically Western scientific studies come from a place of arrogance and superiority, but these conclusions can be upended once the society is studied closer and through a non-biased perspective.

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