Propoasl

At the end of the 19th century, social and economic changes brought about by the Industrial Revolution threatened the viability of capitalism. By creating antitrust law, the government successfully curtailed the worst abuses of monopoly power. Now, at the end of the 20th century, we are in the midst of the Information Revolution. The applicability of 20th century law to the 21st century economic order is being tested by recent government action against the largest of the software giants, Microsoft Corporation.

A market is characterized by increasing returns to scale when the cost of producing an additional unit of a product goes down as the quantity of the product produced goes up. Electric power and other public utilities are examples of markets that exhibit increasing returns to scale. Most of the cost of providing electric power comes from setting up the infrastructure of power lines. Once that infrastructure is in place, pumping more and more power over those lines costs little. The presence of increasing returns to scale means that large companies can produce more efficiently than small companies. A market that has

Some topics in this essay:
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