A monopoly is a market with only one seller of a product, with no close substitutes. Microsoft in the 1980s had close to a monopoly on operating systems, for example. And Google today is almost a monopolist in Internet search.
- A Year in Publishing: Secret Meetings and the Powerful Threat of Digital Publishing houses are scrambling to determine how to cope with the rise in digital reading. The iPad, the Kindle, the Nook and the Sony Reader, the strongest players in the eReader market, are four of the biggest threats to the print publishing industry. With everyone reading on a screen, how do publishers make a profit? Just this week, on December 18, Pearson Plc’s Penguin Group, a book publisher, reached a settlement with the U.S. Department of Justice in a case in which Penguin was accused of forging a deal with Apple to prevent other ebook sellers from discounting their prices. KWHS explores this bold deal between Apple and book publishers, the resulting anti-trust lawsuit and the future of traditional book publishing.
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